Dai (DAI)
Loading...
Loading...
About DAI
Dai (DAI) is a decentralized stablecoin created by MakerDAO, designed to maintain a 1:1 peg to the US dollar. Unlike centralized stablecoins, Dai is backed by cryptocurrency collateral on the Ethereum blockchain, making it fully decentralized. Users can generate DAI by depositing collateral into Maker Vaults, which are smart contracts that ensure Dai's stability. Dai plays a vital role in the DeFi ecosystem, allowing users to transact, lend, and borrow in a stable currency without relying on traditional banks. Access live DAI prices, historical data, and market insights on our Dai Markets page to stay updated on Dai’s role as a key stablecoin in the crypto world.
Convert Fiat to Dai
News
Tether Aids $225M Seizure in US Secret Service’s Largest Crypto Bust Ever
The U.S. Secret Service shattered records with a $225 million crypto seizure, spotlighting Tether’s role in dismantling global digital asset fraud at scale. US Secret Service Achieves Largest $225M Crypto Bust With Tether’s Support Digital asset firm Tether announced on…
Ripple Unveils Urgent 4-Point Plan to Ignite UK Crypto Revolution
Ripple is pushing the UK to ignite crypto leadership with four bold regulatory moves set to spark explosive innovation, massive investment, and unstoppable blockchain-driven financial dominance. New Recommendations Set Stage for UK’s Explosive Crypto Power Shift Ripple revealed on June…
Binance’s CZ Calls for ‘Will Function’ on Every Crypto Platform
As billions in crypto wealth surge globally, urgent calls intensify for platforms to adopt inheritance-ready “will functions,” safeguarding digital assets and empowering responsible, future-proof financial planning. 'Will Function' Needed to Protect Billions in Crypto, Says Binance’s CZ Binance founder and…
Ripple v SEC Ruling Over XRP May Drop Faster Than Expected, Lawyer Says
Ripple’s battle with the SEC over XRP inches closer to resolution as a swift ruling looms, potentially clearing hurdles for settlement and dramatically reshaping crypto regulation. Lawyer Signals Fast Ruling: Judge Torres May Move Quickly in Ripple v SEC Case…
Massive Data Breach: 16 Billion Records From Apple, Facebook, Google, Telegram Exposed
A colossal breach exposing 16 billion login credentials ignites global cybersecurity fears as criminals gain unprecedented access to personal accounts, corporate systems, and government networks. 16 Billion Login Credentials Leaked: Global Systems Brace For Relentless Exploitation A staggering new breach…
Frequently Asked Questions about Dai
What is Dai (DAI)?
Dai (DAI) is a decentralized stablecoin pegged to the US dollar, created by MakerDAO. It is backed by cryptocurrency collateral and aims to provide stability without relying on centralized entities.
How does Dai maintain its 1:1 peg to the US dollar?
Dai maintains its dollar peg through a system of smart contracts on the Ethereum blockchain. Users can generate DAI by locking up cryptocurrency collateral in Maker Vaults, which automatically manage supply and demand.
What are the main uses of Dai in the DeFi ecosystem?
Dai is widely used in DeFi for lending, borrowing, and transacting in a stable currency. Its decentralized nature makes it a popular choice for users seeking stability without the need for traditional banks.
How can I store Dai securely?
You can store Dai in any Ethereum-compatible wallet, including hardware wallets like Ledger and software wallets such as Exodus and Trust Wallet, which provide secure and accessible storage.
What makes Dai different from other stablecoins?
Unlike centralized stablecoins, Dai is fully decentralized and backed by cryptocurrency collateral on the Ethereum blockchain, providing users with a stable asset that does not rely on traditional banks or central entities.
Is Dai a good investment?
Dai is designed to maintain a stable value pegged to the US dollar, making it less volatile than other cryptocurrencies. It is primarily used for stability in DeFi rather than for speculative investment.
Can I use Dai for payments and transactions?
Yes, Dai is widely accepted in the crypto ecosystem for payments, lending, and other financial activities, making it a flexible option for users looking to transact in a stable currency.