What is the current price of cDAI (CDAI)?

The current price of cDAI (CDAI) is 0.03890759295354797 AUD, representing a +0.28 from the day prior.

Can I buy cDAI (CDAI) on Coinstash?

Yes - you can easily buy and sell cDAI (CDAI) on Coinstash. Simply login or sign up, to start buying cDAI (CDAI) in minutes.

Where is the best place to buy cDAI (CDAI) in Australia?

The best place to buy cDAI (CDAI) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell cDAI (CDAI) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.

What is the daily trading volume of cDAI (CDAI)?

The trading volume of cDAI (CDAI) is 168 AUD in the last 24hrs, representing a +0.28 from the day prior.

How can I buy cDAI (CDAI)?

cDAI (CDAI) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.

What is the market cap of cDAI (CDAI)?

The current market cap of cDAI (CDAI) is 40.6M AUD.

Can I convert cDAI (CDAI) to cash?

Yes - With Coinstash you can convert your cDAI (CDAI) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.

How many cDAI (CDAI) are there?

The current circulating supply of cDAI (CDAI) is 1.0B.

Is Coinstash a safe place to buy cDAI (CDAI) in Australia?

Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling cDAI (CDAI) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices here.

Buy cDAI

What is cDAI?

cDAI, or Compound DAI, is a cryptocurrency issued by the Compound Protocol. It is a representation of DAI that has been lent through the Compound Protocol, a set of smart contracts on the Ethereum blockchain. Holding cDAI allows users to earn interest on their DAI deposits while influencing the liquidity of the lending platform.

How does cDAI work?

cDAI functions as an interest-generating token within the Compound lending protocol. When users lend DAI to the Compound Protocol, they receive cDAI in return. This token represents their claim on the original DAI deposit plus any accrued interest. The Compound Protocol sets interest rates algorithmically based on supply and demand dynamics for the assets. As interest accumulates, the exchange rate between cDAI and DAI increases, reflecting the earned interest.

What are the potential use cases for cDAI?

The potential use cases for cDAI mainly revolve around decentralised finance (DeFi). These include:

Lending and Borrowing: Users can lend their DAI to earn interest, or use DAI as collateral to borrow other assets.
Stablecoin Applications: As a stablecoin pegged to the USD, cDAI can be used in e-commerce, financial transactions, and as a store of value.
Liquidity Mining and Yield Farming: Users can participate in liquidity mining to earn additional rewards, leveraging cDAI's interest-earning capabilities.
DeFi Protocol Integrations: cDAI can be used across various DeFi platforms, allowing for additional profit opportunities and seamless asset management.

What is the history of cDAI?

cDAI was created as part of Compound Protocol’s initiative to facilitate decentralised lending and borrowing of digital assets. The protocol was founded in 2017 by Robert Leshner and Geoffrey Hayes. Initially detailed in a whitepaper in 2018, Compound launched its V2 version in 2019, which included support for multiple crypto assets like DAI. In 2020, the Compound protocol introduced the COMP token to enable community governance, marking a pivotal evolution in its operational structure. Over time, the protocol has expanded its asset pool and refined its governance and interest rate models, solidifying cDAI's role in DeFi.