DAI (Maker)
DAI is the stable-unit asset most commonly associated with the Maker ecosystem: in Maker’s documentation, DAI is generated when users open vaults, deposit approved collateral, and mint DAI subject to collateralization ratios, fees, and liquidation rules. Governance token holders can change parameters over time, which means DAI is not a static product snapshot forever—read current specs before relying on last year’s mental model.
Compared with USDC or USDT, DAI shifts attention toward on-chain collateral, oracles, and protocol governance rather than a single issuer’s bank reserve narrative—each pattern has different failure modes.
Learning path
- Start with Maker’s official documentation for vault mechanics and supported collateral types today.
- If you use DAI only inside a centralized app, you may still have custodial risk separate from the protocol.
Related Explore pages
- Stablecoins overview
- Ethereum (ETH) (common deployment context)
- fUSD (Zano) (different chain and issuer story)
This page is educational and not a recommendation to buy, sell, or hold any asset.
FAQ
- Is DAI backed by dollars in a bank like USDC?
- DAI is commonly described as a crypto-collateralized stable asset in Maker documentation: users lock collateral in vaults and mint DAI subject to ratios and fees. It is a different structure than a single-company bank reserve story—read Maker’s current docs for the exact mechanism.
- Can DAI lose its peg?
- Market stress, collateral volatility, governance parameter changes, and liquidity conditions can all move DAI away from one dollar at times. No peg is a physical law.
- What are major risk categories?
- Collateral price risk, liquidation cascades, oracle failures, governance decisions, and smart-contract bugs are all discussed in Maker materials and post-mortems elsewhere in the industry. Do your own reading before sizing exposure.
- Is this financial advice?
- No. This content is general education only.
