More than 1 billion DAI, the stablecoin of lending protocol Maker, has been created


The amount of available DAI — the stablecoin tied to the Ethereum-based lending protocol Maker — has surpassed $1 billion, according to available data.

DaiStats reports that a total of 1,001,031,052.54 DAI has now been issued. DAI is created when collateral, such as ETH, is locked into a smart contract called a Vault. That DAI may later be redeemed and the collateral removed from the smart contract.

The milestone was first noted by Maker founder Rune Christensen in a tweet on November 13. 

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.





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