Stablecoins are used in the cryptocurrency ecosystem to provide a reliable store of value in times of high volatility and uncertainty. They can also be used to quickly arbitrage, as blockchain based systems tend to be faster than Bank wires. Dai is a decentralized stable coin based on the Ethereum blockchain. It is a tether competitor. Holders of the Maker token get to be part of a DAO (a distributed organization) to control the price and volatility of Dai so that it always remains pegged to the USD. The whole system of Dai and MKR tokens is developed by the Maker Company.