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A blockchain-based token engineered to maintain a stable value relative to a reference asset, typically a fiat currency, through collateralisation or algorithmic mechanisms.
Applied: USDC (issued by Circle) and USDT (issued by Tether) are the two largest fiat-collateralised stablecoins; DAI, by contrast, is collateralised algorithmically through over-collateralised crypto deposits via MakerDAO.
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