DAE, also called COLLADA, is an XML scene format with meshes, materials and scene hierarchy. It is still used by SketchUp exports, Second Life and some older game pipelines.
Full name
COLLADA (Digital Asset Exchange)
Type
3D scene (meshes, materials)
Used in
SketchUp, Blender, Second Life, Google Earth, older game engines
IGES stores exact surfaces; DAE needs triangles. We mesh each surface with a deviation of 0.05% of the part's size, which keeps holes and fillets smooth for printing and rendering.
Dimensions stay in the units of the original file, usually millimetres.