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Dai

What is DAI

DAI is an Ethereum-based algorithmic stablecoin created by the decentralized autonomous organization MakerDAO. The price of DAI is soft-pegged (or correlated) to the value of the U.S. dollar using Maker Protocol architecture and governance. While other stablecoins such as Tether use reserves of fiat collateral managed by centralized agencies to maintain price stability, DAI is truly decentralized and maintains its 1:1 USD ratio by allowing users to provide collateral to the protocol in the form of ERC-20 cryptocurrency or liquidity pair LP including BAT, USDC, COMP, and wBTC deposited to smart contract vaults. DAI holders earn interest based on the DAI Savings Rate set by holders of MKR, MakerDao’s native governance token. MKR token holders act as guarantors meaning their MKR tokens can be liquidated if the system were to crash. The goal of MakerDAO is to provide a highly secure, fast and inexpensive permissionless lending and income generation platform with a stable currency alternative that offers decentralized financial freedom to global citizens living in locations with severe economic instability.

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The chart shows the current rate of the DAI cryptocurrency against the dollar in real time according to the version of the Binance Exchange. By clicking on the + Compare / Add button, you can add any cryptocurrencies to the chart. By switching bookmarks, you can watch the rise and fall of prices online for today, for a week, for a month, for a year and for the whole history.

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