Dai (DAI) price is $1

(DAI) Dai Live Price Data

The live Dai (DAI) price is $1, with a 24 hours Blynex trading volume of 106.52 K. The price of DAI changed by +0.16% in the past 24 hours. With a circulating supply of 5.37B DAI and a maximum supply of 5.37B DAI coins. DAI currently ranks #25 in market cap. You have the option to purchase Dai (DAI) on the Blynex exchange.

Market	Price	24h %	24h High	24h Low	24h Volume
DAI/USDT	$1.00117	+0.16%	1.00465	0.99587	106.71 K	Trade

Market

Price

24h %

24h High

24h Low

24h Volume

DAI/USDT

$1.00117

+0.16%

1.00465

0.99587

106.71 K

Trade

Dai (DAI) is the decentralized stablecoin on Ethereum, developed and managed by MakerDAO. Buying BCH on Blynex Exchange is easy: create an account, verify your identity, deposit funds, and start trading. Check out our guide on How to Buy Dai (DAI).

What is Dai (DAI)?

DAI is a decentralized, Ethereum-based stablecoin designed to maintain a soft peg to the U.S. dollar. It is governed by the Maker Protocol and the decentralized autonomous organization MakerDAO. Unlike traditional stablecoins issued by centralized entities, DAI is collateralized by a diverse range of cryptocurrencies, which are deposited into smart contract vaults whenever new DAI is minted. This decentralized structure provides transparency and reduces the risk of centralized control over its issuance and development.

Originally launched as Single-Collateral DAI (SAI), DAI initially only allowed collateralization with a single cryptocurrency and lacked features like the DAI Savings Rate. However, in November 2019, Multi-Collateral DAI (MCD) was introduced, enabling the token to be backed by multiple types of cryptocurrencies. The MakerDAO ecosystem, founded by Danish entrepreneur Rune Christensen in 2015, governs DAI's development and operations. MakerDAO operates democratically, with holders of the Maker (MKR) governance token voting on critical decisions, such as protocol upgrades and collateral options.

One of DAI's standout features is its reliance on Ethereum-powered smart contracts, which ensure transparent and secure management of token issuance and burning. These self-executing agreements record all transactions on the blockchain, making them accessible and auditable by anyone. This decentralized approach minimizes the risk of corruption or manipulation and enhances trust among users, differentiating DAI from stablecoins managed by private companies.

DAI addresses the inherent volatility of the cryptocurrency market by offering a stable value pegged to the U.S. dollar. This stability makes DAI an attractive option for traders and investors seeking a safe-haven asset to hedge against market fluctuations. Additionally, DAI's governance structure, powered by MakerDAO, ensures that no single entity can unilaterally control its operations. This democratic and decentralized model provides a level of transparency and accountability rare in the cryptocurrency space.

DAI's stability and decentralized nature have fueled its adoption in a variety of applications. It is commonly used in decentralized finance (DeFi) platforms for lending, borrowing, and yield farming. Additionally, it serves as a stable means of transaction in crypto markets, providing an alternative to fiat-backed stablecoins. The DAI Savings Rate allows users to earn interest on their holdings, further enhancing its appeal. With its robust governance and technological foundation, DAI continues to play a vital role in advancing decentralized financial ecosystems.

(DAI) Dai Live Price Data

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