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.