The DAI price update as of now is $1.00. In the previous 24 hours, its trading volume was $22,392,055, and its value has increased by 0.02%. As of now, DAI's live market cap is $5,351,032,600, and it is ranked as the #21 on the Coincu. DAI has a circulating supply of 5,347,888,596 and a maximum supply of 5,347,888,596.

What is Dai? Dai is an Ethereum-based stablecoin that is managed by the Maker Protocol and the MakerDAO decentralized autonomous organization. It is designed to have a value pegged to the U.S. dollar and is backed by a mix of other cryptocurrencies held as collateral in smart-contract vaults.

MakerDAO is a smart contract platform built on the Ethereum blockchain network. It allows ETH holders to exchange private assets for Dai stablecoins through smart contracts. Users can mortgage assets in exchange for Dai or acquire it through brokers, exchanges, or as payment. The MakerDAO ecosystem includes Dai stablecoin and MakerDAO.

Dai is unique in that every unit in circulation is fully collateralized, meaning that the value of the collateral exceeds the value of the Dai debt. All Dai transactions are transparently recorded on the Ethereum blockchain.

Outstanding Features of Dai

The Purpose of the Project

Dai as a Store of Value

Dai is designed to act as a stable store of value, even in volatile markets.

Dai as a Medium of Exchange

Dai serves as a medium of exchange for a wide range of transactions worldwide.

Dai as a Unit of Account

Dai is currently pegged to the U.S. dollar at a target price of 1 USD. While it is not widely used outside the Maker Protocol and blockchain dapps, it serves as a unit of account within these platforms.

Dai as a Standard of Deferred Payment

Dai is used to settle debts within the Maker Protocol, providing a unique advantage over other stablecoins.

Collateral Assets for Dai

The stability and value of Dai are ensured by the collateral assets deposited in Maker Vaults on the Maker Protocol. These collateral assets are approved by MKR holders.