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Dai DAI

DAI - a price stablecoin

$0.999389
-0.16%
Market Cap
$5,407,828,101.46
0.19%
Fully Diluted Market Cap
$5,407,826,914.00
0.19%
Volume
24h
$553,289,158.00
Volume / Market Cap
0.1023
Circulating Supply
5,411,134,304.52
0%
Total Supply 5,411,134,304.52
Low : $0.99
High : $1.00
Tags

DАI - an Ethereum-based stablecoin (a price-stable cryptocurrency), its issuance and development are managed by the Maker Protocol and the decentralized autonomous organization MakerDAO.

Contents:

History of DAI

The price of DAI is softly pegged to the US dollar and backed by a combination of other cryptocurrencies that are deposited in smart contract vaults each time a new DAI is minted. It is important to distinguish between multilateral DAI and one-way DAI (SAI), an earlier version of a token that could only be backed by one cryptocurrency. SAI also does not support the DAI savings rate, which allows users to earn savings by holding tokens. The multilateral token appeared in November 2019.

One of the defining features of DAI - it was not created by a single individual or a small group of co-founders. Instead, the development of the software that powers it and the issuance of new tokens are governed by the MakerDAO and Maker protocol.

Project uniqueness

The main advantage of DAI lies in its soft peg to the price of the US dollar. The crypto market is well-known for its volatility even with the largest highly liquid coins like bitcoin, sometimes experiencing price changes of 10% or more in a single day. Under these circumstances, traders and investors are naturally inclined to add safe assets to their portfolios whose stable price can help to offset significant market fluctuations.

Why should you trust this project:

Stability It is a cryptocurrency, whose price is pegged to assets with a relatively stable value - most often traditional fiat currencies such as US dollars or euros.
Control Another key advantage of DAI is that it is not run by a private company, but by a decentralized autonomous organization under a software protocol. As a result, all token burns are managed and publicly recorded by smart contracts, based on Ethereum, which makes the entire system more transparent.

In addition, the DAI software development process is regulated in a more democratic way - through direct voting by the permanent participants of the token ecosystem.

Platform economics

The new DAI tokens are not mined like Bitcoin (BTC) and Ethereum (ETH), nor are they minted by a private company under its own issuance policy like Tether (USDT). Instead, a new DAI can be minted by anyone, using the Maker Protocol. The purchase of DAI tokens is available on numerous online platforms. These include decentralized finance (DeFi) token exchange protocols:

  • Uniswap;
  • Compound.

And traditional cryptocurrency exchanges:

  • Coinbase Pro;
  • Binance;
  • OKEx;
  • HitBTC.

There is no upper limit to the total DAI supply - the supply is dynamic and depends on how much collateral is stored in the vaults at any one time.

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Market Cap: