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Cryptocurrency Q&A Is DAI fiat backed?

Is DAI fiat backed?

CherryBlossomDance CherryBlossomDance Tue Oct 15 2024 | 7 answers 1666
I'm interested in understanding if DAI, a cryptocurrency, is backed by fiat currency. I want to know if there's a direct LINK between DAI's value and any specific fiat currency. Is DAI fiat backed?
dai fiat backed cryptocurrency

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