DAI is interesting but I don't think they are quite there yet. I had a chat with one of their devs over coffee a couple of weeks ago. I said that as CDPs are essentially banks, they need to think a bit more about what makes banks stable (or unstable).
I spent some time recently discussing MakerDAO's Dai with one of its developers. I don't think they quite understand what stabilises a regulated banking system, and why unregulated banking systems tend to be extremely unstable.