|
Dai DAI |
BUY
|
|
£0.789811 |
-0.02% (24h) |
|
|
Marketcap |
||
|
£4,237,638,516 |
||
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Volume 24h |
||
|
£275,453,528 |
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Description
Dai (DAI) is a decentralized stablecoin that is soft-pegged to the US dollar and runs on the Ethereum blockchain. Launched in 2017 by the MakerDAO project, Dai is generated through a system of collateralized debt positions (CDPs), where users lock up collateral in smart contracts to mint new DAI tokens. Unlike other stablecoins, Dai is not backed by a central entity, but by a diverse basket of assets on the Ethereum blockchain. DAI is used in various decentralized finance (DeFi) applications, offering stability and liquidity to the ecosystem.