So it's DAI, a decentralized stablecoin backed by ETH.
History has proved that Dai succeeds even in a falling ETH environment. When the value of ETH fell from $1,400 USD in January 2018 to $400 in April 2018, the Dai systems incentive structure successfully kept the value of Dai pegged to $1 USD.
Unlike Tether (USDT), Dai is completely decentralized. You can see how it works at https://www.hb-wallet.com/post/how-dai-stablecoin-works
What do you think about this stablecoin and its future? I heard a lot of DAI and read how it was working to become a stable coin, DAI was not backed by fiat or whatsoever It was backed by Ethereum thats why its uniquely tied with also a cryptocurrency to make its value stable, But honestly im not holding DAI or using it since i was prepare to use USDT for a long time already to be honest IMHO i dont care if those stablecoin was not fully decentralized after all its just a stable coin and dont fluctuate much like the cryptocurrency does. thats why im not holding it for long time or it was just transitional usage to make my holdings value and price stable for awhile.