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Dai DAI |
BUY
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$0.999669 |
-0.02% (24h) |
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Marketcap |
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$5,363,606,839 |
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Volume 24h |
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$125,007,339 |
Description
DAI (DAI) is a decentralized stablecoin that is soft-pegged to the US Dollar and is managed by the MakerDAO community of MKR token holders. Unlike centralized stablecoins, DAI is backed by a diverse basket of cryptocurrency collateral that is held in smart contracts known as "Vaults." Users can mint DAI by locking up assets like ETH or WBTC, ensuring that the stablecoin remains decentralized and transparently backed on-chain. Its stability is maintained through a system of dynamic interest rates and incentives, making it a cornerstone of the decentralized finance (DeFi) ecosystem.