Dai is a stablecoin that maintains a value of $1. What makes Dai different than other stablecoins? For two reasons. First, Dai is created by an organization called MakerDAO. MakerDAO is different than other organizations that issue stablecoins (like Coinbase or Tether Unlimited) because it is a "decentralized" organization (that's what the D in DAO stands for!). Being a DAO means no one person is in charge and instead the community controls the organization by voting. Second, Dai is backed by digital assets like bitcoin or ether, rather than traditional money (or "fiat") like dollars.

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