|
Dai DAI |
|
|
$0.999894 |
0% (24h) |
|
|
Marketcap |
||
|
$5,364,814,010 |
||
|
Volume 24h |
||
|
$576,774,365 |
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.