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Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, Dai isn't backed by US dollars in a bank account. Instead, it’s backed by collateral on the Maker platform. Note: if the Dai credit system is upgraded or shutdown, Dai holders may need to convert their Dai to Ethereum through the Maker platform. Read more at makerdao.com/whitepaper.
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$5.37B
$5.37B
5.4B DAI
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5.4B DAI
#26
0.14%
$156.77M
-1.3%
$1.08B
$4.61B
$1.37
-0.01%
DAI vs markets
↘ 41.38%
DAI vs BTC
↘ 40.09%
DAI vs ETH
↘ 36.97%
Tags
defi
stablecoin
asset-backed-stablecoin
usd-stablecoin
+1
Network | Address | |
---|---|---|
Ethereum | 0x6B175474E89094C44Da98b954EedeAC495271d0F | |
Polygon | 0x8f3Cf7ad23Cd3CaDbD9735AFf958023239c6A063 | |
Avalanche C-Chain | 0xd586E7F844cEa2F87f50152665BCbc2C279D8d70 | |
Solana | EjmyN6qEC1Tf1JxiG1ae7UTJhUxSwk1TCWNWqxWV4J6o |
Time | Price | Change |
---|---|---|
Today | $1.00 | ↘ 0.01% |
1 Day | $1.00 | ↘ 0.01% |
1 Week | $1.00 | 0.00% |
1 Month | $1.00 | 0.00% |
1 Year | $1.00 | ↘ 0.01% |
Dai (DAI) is a stablecoin designed to maintain a value close to the U.S. dollar. It operates on the Ethereum blockchain and is managed by the Maker Protocol, a decentralized system governed by MakerDAO. Unlike traditional fiat-backed stablecoins, Dai is generated through a system of collateralized debt positions (CDPs), where users lock up various crypto assets to create Dai. The protocol is designed to maintain its stability algorithmically through smart contracts and decentralized governance.
Dai is created when users deposit accepted cryptocurrencies into Maker Vaults within the Maker Protocol. These vaults serve as collateralized positions, ensuring that Dai remains overcollateralized to support its stability. Depending on the asset used, the collateralization ratio typically ranges from 101% to 175%. If the collateral falls below the required threshold, the system automatically liquidates it to maintain stability. Issuance and burning of Dai are executed through Ethereum-based smart contracts, ensuring transparency and minimizing reliance on centralized entities.
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Terms apply. Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Trending articles
Popularity in posts
#413
Contributors
3,401
Posts
4,610
% About Dai
0.056%
Articles
3
Hold times
0 days
X (Twitter)
38.29% bullish
Sentiment
4.4 ★
Highlights
3,401 unique individuals are talking about Dai and it is ranked #413 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Dai has an average sentiment score of 87 out of 5. Finally, Dai is becoming less newsworthy, with 3 news articles published about Dai.
On Twitter, people are mostly neutral about Dai. There were 42.58% of tweets with bullish sentiment compared to 11.2% of tweets with a bearish sentiment about Dai. 57.42% of tweets were neutral about Dai. These sentiments are based on 2093 tweets.
On Reddit, Dai was mentioned in 93 Reddit posts and there were 1268 comments about Dai. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.