Which goes to show there's no such thing as a decentralised stablecoin, since they're all backed with other stablecoins that aren't decentralised.

While also being ~160% collateralized. I’d link more specific figures but the makerdao site, like most crypto projects, doesn’t make those figures easy to find.

Edit: There you go: https://daistats.com/#/

Disclaimer: somewhat motivated reasoning since I’ve left a standing order for DAI at 0.995 on an exchange, which was just filled this evening, in the expectation that DAI always returns to parity.