USDS Smart Contracts
Summary
MakerDAO introduces a new stablecoin token (USDS, rebranded DAI) along with a permissionless converter for 1:1 conversions between DAI and USDS. The USDS is an ERC-20-compliant token, and the converter, DaiUsds, enables seamless exchanges. The project also features UsdsJoin, which is the USDS equivalent of DaiJoin. “The Maker Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by “Maker Governance.” Maker Governance is the community organized and operated process of managing the various aspects of the Maker Protocol. Dai is a decentralized, unbiased, collateral-backed cryptocurrency soft-pegged to the US Dollar. Resistant to hyperinflation due to its low volatility, Dai offers economic freedom and opportunity to anyone, anywhere.
