For instance, DAI, the most important decentralized and overcollateralized stablecoin, is holding USDC as a substitute of USDT in its treasury. DAI, the forex of the blockchain protocol MakerDAO, has a market capitalization of greater than $6 billion and retains its 1:1 alternate ratio to the U.S. greenback by amassing way more crypto belongings than the market worth of all of the DAI tokens in circulation.
