# DAI: Dai

DAI is a decentralized stablecoin generated against collateral in the Sky Protocol, formerly MakerDAO.

## Key details

- **Issuer:** Sky Protocol
- **Reference currency:** USD
- **Backing model:** Overcollateralized onchain assets
- **Created:** 2017-12-19

## About

Sky began as MakerDAO, with contributors working on early designs from 2015 and the first Dai system going live in 2017. Maker introduced Multi-Collateral Dai in 2019, then rebranded the ecosystem as Sky in 2024 while keeping DAI and adding USDS as a newer protocol token.

## Supported chains

- Ethereum
- Arbitrum
- Avalanche
- Base
- BNB Smart Chain
- Gnosis
- Optimism
- Polygon PoS

- **Reference contract:** `0x6B175474E89094C44Da98b954EedeAC495271d0F` (Ethereum)

## Legal jurisdiction

No single issuing country (decentralized protocol)

Sky Protocol governance and smart contracts. Skybase International’s Cayman Islands terms govern only the web interface, not DAI or USDS issuance.

## Sources

- [Official site](https://sky.money/)
- [MakerDAO](https://makerdao.com/whitepaper/DaiDec17WP.pdf)
- [Sky legal terms](https://docs.sky.money/legal/skybase-international/terms-of-use)

This directory is for research, not an endorsement or an availability promise from Fiber. Stablecoin designs, reserves, networks, and redemption terms can change.

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