DDAI is a token which is 1:1 redeemable and backed by Dai. Dai is lend out on Fulcrum and the interest is send to the user's DeFi recipes. Additionally DDAI supports the GSN network allowing for transaction fees to be paid in DDAI.
When interest is paid out the interest is send through the users DeFi recipes according to the ratios they set up. These recipes take ddai tokens and take a action for the users. Below are some of the recipes we are working on:
This recipe takes ddai converts it in dai and buys ether with it on kyber
This recipe takes ddai converts it in dai and buys wbtc with it on kyber