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While there are several contenders of various complexity, DAI is still the state of the art AFAIK.

https://makerdao.com/whitepaper/White%20Paper%20-The%20Maker...

DAI is currently pegged to the USD but the long-term goal is (was?) to have an asset following a more general notion of stability according to some international index.

I wasn't able to find a source or specifics for that last part but I did find this overview from 2019 that I think looks quite good.

https://www.ecb.europa.eu/pub/pdf/scpops/ecb.op230~d57946be3...




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