|Volume / Market Cap
Dai is currently trading at $1.00, after a price change of -0.05% in the last 24 hours.
Ranked as cryptocurrency #14 by capitalization today, DAI market cap is valued at $5,795,312,817. DAI trading volume reached $224,763,951 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on DAI coin price prediction page.
What is Dai?
Dai is a decentralized, stablecoin cryptocurrency that is pegged to the United States dollar. It was introduced in December 2017 by MakerDAO, a decentralized autonomous organization and open-source project based on Ethereum. Similar to other crypto assets, you can use the Dai token to transfer funds, pay for goods and services, and hold as savings.
When members borrow money using collateral, the network creates new Dai coins. It destroys them when the members repay their loans. The objective of this coin is to remain as close as possible to $1, and if the price falls below this level, it uses TRFM to bring it back up. This leads to an increase in demand, and in turn, gains being made by token holders.
Because of its decentralized nature, you can make new Dai tokens without any paperwork. Regular members of the community have a say in future developments. Through the DSR protocol, they can stake the tokens to ensure network safety and authenticate transactions. Although this generally occurs in a proof-of-stake network, there is no native blockchain for this coin.