Here is the English translation without altering the HTML format:
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Zero Collateral Dai (ZAI) heralds the arrival of a new era, inspired by Empty Set Dollar (ESD). Zero Collateral Dai (ZAI) is a hybrid synthetic algorithmic stablecoin that adopts a self-stabilizing elastic supply mechanism. Zai is not backed by any collateral and does not rely on centralized custodians, avoiding regulatory and censorship risks.
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