Stefano
Thu May 16 2024
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5 answers
901
Who makes DAI coin?
Who creates DAI coins, might you ask? DAI, a decentralized stablecoin, is not issued by any central bank or single entity. Instead, its creation is algorithmically managed through the MakerDAO protocol, a smart contract system running on the Ethereum blockchain. DAI's stability is achieved by being pegged to the US dollar, and its supply is adjusted dynamically based on the collateral locked in the MakerDAO system. This collateral can be various types of cryptocurrencies, which are used as a guarantee for the issuance of DAI. So, while no specific individual or organization creates DAI coins, it's the collective action of users interacting with the MakerDAO protocol that brings DAI into existence.
