Dai
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DAI
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Dai (DAI) is the largest decentralized stablecoin on the Ethereum network, issued and managed by the MakerDAO project. It plays a vital role in the infrastructure of decentralized finance (DeFi). Dai is designed to maintain a 1:1 peg to the US dollar and is built upon the Maker Protocol, also known as the Multi-Collateral Dai (MCD) system. This system allows users to deposit approved collateral assets into the protocol, as determined by "Maker Governance," to generate new Dai. As a decentralized, collateral-backed cryptocurrency, Dai is unbiased and offers a stable digital asset for users to store and transact in a stable value within the cryptocurrency space.
MakerDAO, a Decentralized Autonomous Organization (DAO), was founded in 2014, and Dai was first issued on September 19, 2017. The total supply of Dai has grown significantly, currently exceeding $5 billion.
To address the high volatility of the cryptocurrency market, where single collateral types can lead to large-scale liquidations, MakerDAO introduced Real-World Assets (RWA) as collateral. By 2024, the total value of RWA used as collateral for Dai has surpassed $2.8 billion. This approach provides greater stability and diversifies risk.
In May 2022, MakerDAO co-founders proposed the Endgame plan, a strategy aimed at increasing decentralization and resilience to external risks. This plan leverages RWAs as a transitional step to achieve a more decentralized system. By 2024, MakerDAO continues to expand this initiative, further solidifying Dai's position as a leading decentralized stablecoin and strengthening its role in both DeFi and broader financial ecosystems.
Above are only for introduction, not intended as investment advice.
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Q&A about Dai Tokenomics
Explore the tokenomics of Dai (DAI) and review the project details below.
What is the allocation for Dai (DAI)?
DAI does not have an initial allocation.
What is the supply schedule for Dai (DAI)?
DAI is an algorithmic stablecoin that is collateralized by other cryptocurrencies. It maintains its peg to the US dollar through a system of smart contracts which automatically adjust the total supply of DAI to keep its price stable. When the price of DAI is above $1, the system encourages the creation of more DAI to bring the price down, which is done by decreasing the stability fee (interest rate) for creating DAI. Conversely, when the price of DAI is below $1, the system discourages the creation of more DAI to push the price up, which is done by increasing the stability fee.
Therefore, the supply of DAI is not predetermined but is constantly changing in response to market conditions. You can find the latest amount on https://makerburn.com/#/charts
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Dai (DAI) is the largest decentralized stablecoin on the Ethereum network, issued and managed by the MakerDAO project. It plays a vital role in the infrastructure of decentralized finance (DeFi). Dai is designed to maintain a 1:1 peg to the US dollar and is built upon the Maker Protocol, also known as the Multi-Collateral Dai (MCD) system. This system allows users to deposit approved collateral assets into the protocol, as determined by "Maker Governance," to generate new Dai. As a decentralized, collateral-backed cryptocurrency, Dai is unbiased and offers a stable digital asset for users to store and transact in a stable value within the cryptocurrency space.
MakerDAO, a Decentralized Autonomous Organization (DAO), was founded in 2014, and Dai was first issued on September 19, 2017. The total supply of Dai has grown significantly, currently exceeding $5 billion.
To address the high volatility of the cryptocurrency market, where single collateral types can lead to large-scale liquidations, MakerDAO introduced Real-World Assets (RWA) as collateral. By 2024, the total value of RWA used as collateral for Dai has surpassed $2.8 billion. This approach provides greater stability and diversifies risk.
In May 2022, MakerDAO co-founders proposed the Endgame plan, a strategy aimed at increasing decentralization and resilience to external risks. This plan leverages RWAs as a transitional step to achieve a more decentralized system. By 2024, MakerDAO continues to expand this initiative, further solidifying Dai's position as a leading decentralized stablecoin and strengthening its role in both DeFi and broader financial ecosystems.
Above are only for introduction, not intended as investment advice.