Dai

About

Dai is a stablecoin project centered around the DAI token. Although DAI was the first of its kind, it began to lose market share to emerging alternatives in the last bull market, especially Terra's UST – now called TerraClassicUSD. UST, unlike DAI, is an undercollateralized and algorithmic stablecoin tethered to the U.S. However, without sufficient collateral and due to the algorithmic design, the stablecoin and underlying Terra, now TerraClassic, token were unable to shield themselves from an aggressive sell-off.