What is Dai?
Dai is a pioneer Ethereum-based stablecoin or collateral-backed cryptocurrency. The token was created by MakerDAO, a DAO ecosystem of smart contracts on the Ethereum blockchain. The DAI token is designed to have a 1:1 value with the US dollar and is one of the most prominent stablecoins in the cryptocurrency space.
Dai goals
The purpose of Dai is to maintain a price of 1 U.S. dollar per 1 DAI by locking other crypto assets in contracts. Dai aims to make cryptocurrency nonvolatile enough for use. Its use cases include storing value during market volatility, convenient and low-cost remittance, repayment of debt, cross-border transactions, and payment for goods and services.
Dai fondamentals
The number of token Dai is 3529888603 DAI. The market cap of Dai is $3529915366. The price of Dai is $1. Dai is maintained and regulated by MakerDAO, a decentralized autonomous organization composed of the owners of its governance token, MKR.
Marketcap
$3.53B
Total number of Dai
3529888603 DAI
Dai technology
Dai is built on the Ethereum blockchain. It uses smart contracts designed to control supply to keep its value as close to one United States dollar as possible. The USD value of the collateral at any given time divided by the amount of DAI borrowed is the loan's 'collateralization ratio'.
Dai competitors
Dai differentiates itself from competitors as the first decentralized, collateral-backed cryptocurrency. Its competitive advantages include its stability, as it is designed to have a 1:1 value with the US dollar. Dai is one of the most prominent stablecoins in the cryptocurrency space.
Dai price history
Frequently asked questions
Dai is used for lending and borrowing crypto assets without intermediaries, storing value during market volatility, convenient and low-cost remittance, repayment of debt, cross-border transactions, and payment for goods and services.
Dai is maintained and regulated by MakerDAO, a decentralized autonomous organization composed of the owners of its governance token, MKR.
The USD value of the collateral at any given time divided by the amount of DAI borrowed is the loan's 'collateralization ratio'.
If the collateralization ratio of a loan falls below the minimum ratio, anyone may call a certain function of the contract to cause a portion of the collateral to be sold for DAI on a decentralized exchange, which is then used to pay off the debt and pay a reward to the account that called the function.
Dai is built on the Ethereum blockchain.
MakerDAO is a decentralized autonomous organization composed of the owners of its governance token, MKR.
The Maker Protocol is designed to maintain the stability of Dai.
The name of the cryptocurrency is based on the Chinese character, which translates to 'to lend or to provide capital for a loan'.
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