DAI
Dai
$0.0000AUD
Market Cap
5.3B AUD
24H Trade Vol.
204.4M AUD
Total Supply
3.4B
All
1W
1M
1Y
Basic chart
Advanced chart
Price Changes
24H:
0.00%
7D:
+0.00%
Instant
Buy Limit
Buy Stop
Buy Dai
Purchase Amount
Switch to DAI
AUD
≈ 0.00000000 DAI
Sign up & Receive $10 in BTC
FREE

Buy Dai

What is Dai?

Dai is an Ethereum-based algorithmic stablecoin that is soft-pegged to the US dollar. It is managed and governed by MakerDAO, a decentralized autonomous organization (DAO) consisting of MKR token holders, who participate in decision-making affecting the system's operations and stability.

How does Dai work?

Dai's creation and management depend on an overcollateralized loan system facilitated by MakerDAO's smart contracts. Users deposit Ethereum-based assets as collateral to borrow Dai, with a requirement to maintain a collateralization ratio of at least 150%. This ensures that every Dai is backed by assets exceeding its value, supporting its stability. The system allows for the minting and burning of Dai, based on collateral fluctuations and loan repayments.

What are the potential use cases for Dai?

Dai can be used in various applications within the fintech and blockchain ecosystems, including:

  • Financial Services: Engaged in lending, borrowing, and decentralized exchanges within the DeFi space.
  • E-commerce & Payments: Facilitates international remittances and can be adopted for digital transactions.
  • Gaming: Serves as in-game currency in blockchain games.
  • Disaster Relief and Aid: Used for providing stable financial support in crisis situations.
  • Store of Value: Acts as a safe haven within volatile crypto markets, offered as a stable medium of exchange or saving method.

What is the history of Dai?

Dai was initiated by MakerDAO, founded by Rune Christensen in 2014, with the explicit aim of creating a stable, decentralized currency on Ethereum. Its initial introduction in December 2017 presented it as the first decentralized stablecoin, quickly adopted in the burgeoning DeFi ecosystem. Over time, Dai evolved to support multi-collateralization beyond Ethereum, enhancing its adaptability and utility. Recent strategic shifts include the development of new projects like PureDai to bolster decentralization and stability.#

Resources

Frequently Asked Questions (FAQs)