Let's talk about the PSM.
The PSM is the Maker DEX that mints Dai against USDC, USDP, or GUSD at a 1:1 ratio as a way to create permissionless liquidity.
In the opposite way, users can put Dai into the PSM and redeem USDC, USDP, or GUSD from its reserves at a 1:1 ratio.
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我们来谈谈PSM。
PSM是制造商DEX，它将Dai与USDC、USDP或GUSD按1:1的比例进行兑换，以创造无许可流动性。
相反，用户可以将Dai放入PSM，并以1:1的比例从其储备中赎回USDC、USDP或GUSD。
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