What is Dai
Dai (DAI) is a decentralised, collateral-backed stablecoin that is soft-pegged to the US dollar and is based on the Ethereum blockchain. Dai is backed by collateralised assets, which is composed of other cryptocurrencies held within smart contracts every time new DAi is minted.
A brief history of Dai
Created in December 2017 by decentralised autonomous organisation MakerDAO and crypto lending platform Maker Protocol. The current iteration of DAI was created in December 2019, replacing its previous stablecoin iteration known as the Single Collateral Dai (SAI).
How Dai works
When the current iteration of DAI was released in 2019, it was generated through the Maker Protocol, a smart contract lending platform that offers loans to users who lock in their collateral in the form of cryptocurrencies. This collateral is then exchanged for DAI, which is a multi-collateral asset provided by Maker, which soft-pegs DAI to the US dollar to help mitigate price volatility.
What is Dai used for?
Dai services crypto traders and investors in need of safe-haven assets to their portfolios. Dai’s relatively stable price helps offset significant market fluctuations, making it a blockchain-native solution for crypto users.
FAQs
Dai's price today is US$0.99881583, with a 24-hour trading volume of $286.27 M. DAI is -0.11% in the last 24 hours. It is currently -0.33% from its 7-day all-time high of $1.00, and +0.33% from its 7-day all-time low of $0.99550504. DAI has a circulating supply of 5.35 B DAI.
How much is 1 DAI worth in dollars? ›
Conversion tables
The current value of 1 DAI is $1.00 USD.
Will DAI go up in value? ›
The Multi-Collateral Dai price prediction for 2025 is currently between $ 0.934574 on the lower end and $ 1.067991 on the high end. Compared to today's price, Multi-Collateral Dai could gain 6.70% by 2025 if DAI reaches the upper price target.
What is the conversion rate for DAI? ›
1 DAI equals 0.78 GBP. The current value of 1 Dai is -0.59% against the exchange rate to GBP in the last 24 hours.
How much is 200 DAI in usd? ›
Popular Dai to USD conversion to look up 🔥
| Dai（DAI） | Current Price | Last Month |
|---|
| 123.5 DAI | $123.54 | $123.50 |
| 200 DAI | $200.06 | $200.00 |
| 300 DAI | $300.09 | $300.00 |
| 500 DAI | $500.15 | $500.00 |
11 more rowsDAI maintains its value by using Target Rate Feedback Mechanism (TRFM). The TRFM increases when the price of DAI goes below $1. The investors start investing in the coin to take advantage of the price drop. Thus, the price of the DAI token gets back to $1 due to increased demand.
How much is 1000 DAI in USDT? ›
DAI to USDT
| Amount (DAI) | Amount (USDT) |
|---|
| 50 DAI | 50.01 USDT |
| 100 DAI | 100.03 USDT |
| 500 DAI | 500.14 USDT |
| 1,000 DAI | 1,000.28 USDT |
4 more rowsUSDT vs USDC vs DAI – Quick Comparison
Elsewhere, DAI is completely decentralized and is governed by a DAO. All of the three tokens are backed by collateral. USDT and USDC are fiat-backed stablecoins based on a 1:1 ratio, while DAI relies on an overcollateralized system implemented by Ethereum-based algorithms.
How does DAI keep its value? ›
Dai (or DAI, formerly Sai or SAI) is a stablecoin token on the Ethereum blockchain which uses smart contracts designed to control supply to keep its value as close to one United States dollar as possible.
Can you sell DAI on Coinbase? ›
Create a Coinbase account to buy and sell Dai on the most secure crypto exchange.
Local banks and credit unions usually offer the best rates. Major banks, such as Chase or Bank of America, often offer the added benefit of having ATMs overseas. Online peer-to-peer foreign currency exchanges. Online bureaus or currency converters, such as Travelex, provide convenient foreign exchange services.
How much is $2000 baht in dollars? ›
Thai Baht to US Dollars: exchange rates today
| THB | USD |
|---|
| 1,000 THB | 27.10 USD |
| 2,000 THB | 54.20 USD |
| 5,000 THB | 135.51 USD |
| 10,000 THB | 271.02 USD |
8 more rowsETH to DAI
| Amount (ETH) | Amount (DAI) |
|---|
| 1 ETH | 3,583.65 DAI |
| 5 ETH | 17,918.25 DAI |
| 10 ETH | 35,836.51 DAI |
| 50 ETH | 179,182.55 DAI |
4 more rowsBinance is a centralized exchange where you can buy several cryptocurrencies including Dai.
Is DAI always exactly $1 USD? ›
DAI is a decentralized stablecoin offered by the Maker Protocol that is soft-pegged to the value of USD 1. This means DAI was created to closely follow the dollar, keeping its value as close to exactly 1 US dollar as possible.
How to convert DAI to USD? ›
Convert Dai to United States Dollar
1 DAI equals 1.00 USD. The current value of 1 Dai is -0.08% against the exchange rate to USD in the last 24 hours. The current Dai market cap is $5.22B.
Is DAI better than USDT? ›
Both DAI and USDT charge fees for transactions and other services. However, the fees for DAI are generally lower than those for USDT, since DAI is a decentralized stablecoin that does not require a centralized entity to maintain the price stability.
What is DAI value? ›
Price of DAI today
The live price of Dai is $ 0.999935 per (DAI / USD) with a current market cap of $ 5.35B USD. 24-hour trading volume is $ 475.04M USD. DAI to USD price is updated in real-time. Dai is 0% in the last 24 hours with a circulating supply of 5.35B. DAI Price History USD.
How much is a DAI Euro? ›
The current value of 1 DAI is €0.93 EUR.
What does DAI mean coin? ›
Dai is the first decentralized, collateral-backed stable cryptocurrency. DAI is an ERC-20 token that attempts to maintain a stable 1:1 value with the U.S. dollar by locking other crypto assets in smart contracts.
Thai Baht to US Dollars: exchange rates today
| THB | USD |
|---|
| 1,000 THB | 27.10 USD |
| 2,000 THB | 54.20 USD |
| 5,000 THB | 135.51 USD |
| 10,000 THB | 271.02 USD |
8 more rows