DAI is a decentralized stablecoin combining overcollateralized lending with RWA yield, but stability depends on collateral quality, liquidation liquidity, USDC or RWA dependence, and governance risk.
Investment View
Investors should monitor DAI collateral mix, stability fees, savings rate funding, liquidation stress, and Maker and Sky governance decisions over supply alone.
DAI is a mature DeFi stablecoin, but after the Sky transition its main task is preserving peg and trust rather than growth.
Investment View
Investors should watch DAI supply, liquidity after USDS migration, and the balance between DSR and stability fees.