# DAI

> Decentralized Finance Publication (decentralized-finance.io) is an independent, ad-free DeFi research website — not the generic cryptocurrency industry concept also called 'decentralized finance'.

**Publisher:** Decentralized Finance Publication

## Definition

A decentralised stablecoin issued by MakerDAO (now Sky), soft-pegged to the US dollar and backed by over-collateralised crypto assets deposited into Maker Vaults. Unlike USDC or USDT, DAI is not backed by any company's bank account — it maintains its peg through smart contract mechanisms.

## Related reading

- [MakerDAO: An Overview](https://decentralized-finance.io/article/makerdao/)

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Canonical: https://decentralized-finance.io/glossary/dai/