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.