Dai
DAIWhat is The CoinDesk 20?
The CoinDesk 20 filters from the larger universe of thousands of cryptocurrencies and digital assets to define a core group of 20.
These assets constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.
Price
$1.00
24 Hour % Change
0.19%
Market Cap
$1.43B
Volume (24h)
$587.66M
USD
Linear
Log
to
Key metrics
24 Hour Low
$1.00
24 Hour High
$1.00
Net change
$0.001948
24 Hour Open
$1.00
All time high
$1.22
Total Supply
1.42B
Returns (24H)
0.19%
Returns (YTD)
-0.24%
Volatility (30d)
0.03
Transaction Count (24h)
19,203
Average Transaction Fee (24h)
n/a
Value Transacted (24h)
$930.43M
About Dai
Category
Stablecoin
Value proposition
Digital fiat
Dai is a decentralized cryptocurrency built on Ethereum stabilized to the value of U.S. dollars. The asset is pegged 1:1 to dollars via what is known as the Maker (MKR) Dai Stablecoin System. Unlike other popular stablecoins whose value is backed directly by USD, cryptocurrency collateral, which can be viewed publicly on the Ethereum blockchain, keeps dai’s value stable. Dai is a key component of many decentralized apps, or dapps, in the decentralized finance, or DeFi, ecosystem that is built on the Ethereum platform. With dai, DeFi users are able to use the asset’s stability to lend, borrow and invest on various different dapps. Note: The market cap and circulating supply figures here reflect only the supply of DAI that exists as an ERC-20 token. Additional DAI are recorded elsewhere, for example in DAI Savings Rate (DSR) lock-ups, and not included in the numbers published here.
Disclaimer
Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or curation of CoinDesk content in all its forms.
Foundations - Consensus: Distributed
May 13, 2020
May 13, 2020
Popular decentralized finance protocol Pickle Finance was hacked on Saturday, draining $19.7 million in DAI.
MakerDAO’s DAI Stablecoin Breaks $1B Market Cap
Nov 11, 2020
The stablecoin dai (DAI) broke a market capitalization of $1 billion on Wednesday, a major milestone for the DeFi pioneer.
Volume Surge Brings 25% Turnover to ‘CoinDesk 20’
Nov 10, 2020
In the latest CoinDesk 20 revision, five assets were replaced by crypto assets that saw recent quarterly volume surges.
USDC and DAI seem to have found their niche as the preferred stablecoins in decentralized trades.
MakerDAO's ingestion of centralized stablecoins may help maintain a $1 peg. But it could also invite more regulatory scrutiny.
‘No Other Option but More Collateral’: The Short- (and Long-) Term Fixes for Dai’s Broken Peg
Sep 11, 2020
Stablecoin demand in yield farming is breaking dai's peg. Solutions revolve around USDC and Maker's version of QE, but will these measures last?
