The live price of Dai is - per (DAI / USD) with a current market cap of $5.36B USD. 24-hour trading volume is - USD. DAI to USD price is updated in real-time. Dai is -% in the last 24 hours with a circulating supply of 5.37B.
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Dai is the largest decentralized stablecoin on Ethereum, developed and managed by MakerDAO, and is the infrastructure of decentralized finance (DeFi). Dai is fully collateralized and issued with the US dollar, pegged at 1:1, 1Dai = 1 US dollar. Individuals and businesses can obtain safe haven assets and liquidity by exchanging Dai or borrowing Dai as collateral. Dai has been applied in mortgage loans, margin trading, international transfers, supply chain finance, etc.
Dai is a decentralized network that launched its native cryptocurrency DAI on the Ethereum blockchain network at the end of 2017. DAI is a stablecoin that uses a unique system to ensure that it is pegged to the US dollar.
Smart contracts and ecosystem participants together form a complex network to ensure that DAI is pegged to the US dollar, while MakerDAO and its MKR governance token are responsible for running its governance system to maintain and monitor the situation of DAI tokens.
Dai comes in two versions: Single Collateral Dai (SAI) and Multi Collateral Dai (MCD). SAI was initially deployed only on Ethereum, with a fixed stability fee and an automatic liquidation mechanism. MCD is backed by multiple types of collateral, has a more flexible stability fee, and uses a custodian system for liquidations.
Currently, SAI is no longer in development and is no longer supported, and will be fully replaced by MCD. SAI holders can convert their tokens to MCD. DAI prices are updated in real time on Binance.
DAI depegged in February 2023, causing the protocol to lose $3 billion and sparking discussions about backup systems. To prevent this from happening again, MakerDAO is considering adopting an emergency switch to allow the protocol to be more flexible in responding to market conditions to maintain the stability of the stablecoin.
Dai is a stablecoin pegged to the US dollar and backed by collateral. Dai (DAI) is also the first decentralized stablecoin built on the Ethereum blockchain. Since the price of Dai is pegged to the US dollar, the market volatility is relatively small. Therefore, it is often used as a payment method or hedging mechanism. Each Dai generates residual collateral, which is held in custody in a publicly auditable Ethereum smart contract.
The Maker Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by "Maker Governance". Maker governance is a community-organized and operated process for managing all aspects of the Maker Protocol. Dai is a decentralized, unbiased, collateral-backed cryptocurrency pegged to the US dollar. Dai's low volatility is resistant to hyperinflation and provides economic freedom and opportunity for anyone, anywhere.
The DAI stablecoin was created by the MakerDAO project. The project was founded by Rune Christensen in 2015. MakerDAO is a decentralized autonomous organization (DAO) running on the Ethereum blockchain, and the DAI stablecoin is its flagship product. Christensen continues to be involved in the development and governance of the MakerDAO ecosystem.
DAI is mainly used for trading and investing in cryptocurrencies, providing a stable way to store value and hedge against market volatility. In addition, more and more merchants and businesses have also accepted DAI for shopping and payment. It can also be used as collateral for loans or for cross-border transfers of value without high fees or delays.
The key advantage of DAI is that it is managed by a decentralized autonomous organization (DAO) and driven by self-enforceable smart contracts, which can increase transparency and reduce the risk of corruption. In addition, its democratic governance structure allows participants to directly vote, making the decision-making process more inclusive. DAI adopts a decentralized structure, providing an attractive alternative to the traditional centralized financial system.
DAI works with the MakerDAO ecosystem in a unique way. Its decentralized applications (DApps) are supported by MakerDAO's smart contracts, which can speed up the over-collateralization and repayment process, incentivizing participants to manage and maintain the Dai network. This process effectively maintains the operation of the ecosystem and ensures that the value of the token is pegged to the US dollar.
Network participants can pledge Ether or other cryptocurrencies and borrow DAI at a preset interest rate based on their value. If the collateral rate is lower than the preset minimum interest rate, anyone can initiate a forced liquidation of the loan. After the loan and interest are repaid, the platform will destroy the returned DAI and return the collateral. In this process, the MakerDAO protocol will regulate the acceptable collateral types, collateral rates, and interest rates for borrowing and storing DAI to ensure that the value of DAI is pegged to the US dollar.
DAI is created based on the collateral provided by those who demand it, so there is no maximum supply. As of writing, its circulating supply is 5,347,888,596.
Users can buy DAI directly from Binance using a debit or credit card, and can also use DAI to trade other cryptocurrencies on the Binance exchange.
The Dai to other currencies exchange rate?
