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DAI is a decentralized stablecoin pegged to the U.S. Dollar and governed by the MakerDAO community. Unlike most stablecoins backed by banks, DAI is backed by crypto collateral and managed through smart contracts. This makes it one of the most innovative and censorship-resistant stablecoins in the world.
With Oobit, you can use DAI instantly to pay anywhere Visa is accepted worldwide.
Pay with
DAI
Pay with
DAI
What is DAI?
DAI was launched in 2017 by MakerDAO as the first major decentralized stablecoin. Instead of being issued by a centralized company, DAI is created when users lock crypto assets such as Ethereum into MakerDAO vaults. The system uses overcollateralization to keep DAI stable at 1:1 with the U.S. Dollar.
This unique design has made DAI a cornerstone of the DeFi ecosystem, powering lending, borrowing, and decentralized trading.
Why DAI is Important
DAI matters because it shows that stablecoins can exist without reliance on banks or central issuers. In places where access to traditional finance is limited or unstable, DAI provides a censorship-resistant and transparent alternative. It also plays a central role in DeFi, where it is used as collateral, liquidity, and a settlement currency.
By combining decentralization with stability, DAI demonstrates the future of trustless digital money.
How DAI Works
DAI is created when users deposit collateral such as ETH or other approved crypto into MakerDAO’s smart contracts. The system ensures that collateral always exceeds the value of issued DAI. If collateral values drop, liquidations protect the peg. Governance is handled by MKR token holders, who vote on risk parameters and collateral acceptance.
Risks of DAI
DAI carries risks different from centralized stablecoins. Collateral volatility can threaten its peg if markets move sharply. Smart contract vulnerabilities also pose risks since the system runs entirely on code. Additionally, governance decisions by MakerDAO can affect how DAI functions, making community trust essential.
DAI in Numbers
Market cap
Over 5 billion USD in 2025
Adoption
Issuer
MakerDAO (community-governed)
Network
Regulation
Use cases
Launch year
2017
Expected launch
Peg
1 DAI equals 1 USD
Backing
User-experience perfection.
Oobit + $USDt for payments in real-life.
Paolo Adriano
CEO of Tether
Thanks to Oobit anyone can now pay with Bitcoin Cash, Bitcoin, Tether, Ethererum and other Crypto anywhere in the world that accepts Visa, right from their smart phone.
Roger Ver
Bitcoin Jesus
Real-Life Payment Integration:
BNB Chain is teaming up with Oobit to enable everyday purchases, like buying coffee, with stablecoins, making crypto transactions more practical and affordable.
BNB Chain
CEO of Tether
How crypto should be- digital cash, instant and helping the unbanked. Tap and Pay for everyday things in-store with your $VET knowing it has a significantly low carbon footprint.
Sarah Nabaa
VeChain foundation
TON x Oobit Use TON and USDt-TON with 100M+ retailers across the globe!
Just like Apple Pay®, the Oobit app allows you to shop, grab a coffee, then Tap & Pay with $USDt-TON & $TON.
TON
What is DAI?
DAI is a decentralized stablecoin pegged to the U.S. Dollar and governed by the MakerDAO community.
How does DAI keep its value stable?
DAI uses overcollateralization and liquidation mechanisms to maintain a 1:1 peg with the U.S. Dollar.
Is DAI backed by banks?
No. DAI is backed by crypto collateral such as ETH and stable assets locked in MakerDAO vaults.
Who controls DAI?
DAI is governed by the MakerDAO community, with MKR token holders voting on system parameters.
Can DAI be censored or frozen?
Because DAI is decentralized and runs on smart contracts, it is resistant to censorship and control by single authorities.
Where can I spend DAI?
With Oobit, you can spend DAI anywhere Visa is accepted globally.
With Oobit, DAI is not just for DeFi — it becomes a practical payment tool. You can tap and pay in stores wherever Visa is accepted, make online purchases using Apple Pay or Google Pay, and cash in or cash out through supported rails.
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