Mapping out the many paths of Dai

Quick Take

MakerDAO is a non-custodial credit facility founded in 2015
The protocol’s stablecoin, Dai, has led to the creation of multiple variants including interest-rate bearing cDai and privacy centric ZkDai
The Block has mapped out the path Dai takes to these variants

Due to Ethereum’s high degree of composability, product experimentation has flourished on the network. Each year, a new application is developed, launched, and presented at one of many global Ethereum-centric conferences. These applications leverage one of the many building tools Ethereum has to offer — one of which is MakerDAO and its overcollateralized stablecoin, Dai.

Founded in 2015, MakerDAO has established itself as a significant tool of Ethereum’s ever-growing DeFi ecosystem. The existence of MakerDAO’s non-custodial credit facility and the resulting stablecoin has led to a growing branch of products and applications built around the usage of Dai.

Below, The Block has created a diagram of the many variations of Dai.

Genesis subscribers have access to our full piece on the many paths of Dai, which provides more information on the creators of these Dai variants and how they work.