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Give an Example of a Prominent Over-Collateralized Stablecoin Protocol.

A prominent example is MakerDAO's Dai (DAI). Dai is a decentralized stablecoin soft-pegged to the US Dollar.

It is backed by a variety of cryptocurrencies, which are deposited into smart contracts called Vaults, and the collateral is always required to be worth more than the amount of Dai generated. This multi-collateral design, combined with liquidation mechanisms, helps maintain the peg in a decentralized manner.

What Are the Three Main Types of Stablecoins (Fiat-Backed, Crypto-Backed, Algorithmic)?
How Does the “Peg Stability Module” (PSM) Help Maintain DAI’s 1 Dollar Peg?
How Does the Collateralization Mechanism of Stablecoins like DAI Differ from Centralized Ones like USDC?
What Is the Difference between a ‘Fiat-Backed’ and a ‘Crypto-Backed’ Stablecoin?