Dai (Fuse)

DAI

DAI (Fuse) is the bridged version of DAI token on Fuse network. Dai is a stablecoin issued by Maker Protocol. DAI officially launched on the Maker Protocol in 2017 as a means to provide a non-volatile lending asset for businesses and individuals. Its first stablecoin iteration was known as the Single Collateral Dai (SAI), which used Ether (ETH) as collateral. The first decentralized, collateral-backed cryptocurrency, DAI is a crypto asset that attempts to maintain a price of 1 U.S. dollar per 1 DAI by locking other crypto assets in contracts. The Maker Protocol, through smart contracts running on Ethereum, enables borrowers to lock ETH and other crypto assets, thus collateralizing it, in order to generate new DAI tokens in the form of loans.