DAI Logo

Dai DAI

€0.951858

-0.02% (24h)

Marketcap

€5,107,082,017

Volume 24h

€169,515,517


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Description

Dai (DAI) is a decentralized stablecoin that is soft-pegged to the US dollar and runs on the Ethereum blockchain.

Launched in 2017 by the MakerDAO project, Dai is generated through a system of collateralized debt positions (CDPs), where users lock up collateral in smart contracts to mint new DAI tokens.

Unlike other stablecoins, Dai is not backed by a central entity, but by a diverse basket of assets on the Ethereum blockchain.

DAI is used in various decentralized finance (DeFi) applications, offering stability and liquidity to the ecosystem.