About Dai
Dai (DAI) is the original decentralized US-dollar-pegged stablecoin, launched by MakerDAO in 2017 (single-collateral) and 2019 (multi-collateral) and now governed by Sky, the rebranded Maker protocol. Unlike custodial stablecoins, DAI is not issued by a regulated company holding bank deposits; instead, it is created when users lock crypto or other approved assets in vaults and borrow DAI against them, or minted at parity through the Peg Stability Module.
DAI is collateralized by a diversified mix of crypto assets (such as ETH and staked-ETH derivatives), other stablecoins (notably USDC via the Peg Stability Module), and real-world assets including US Treasury portfolios. Stability fees, the DAI Savings Rate, and PSM arbitrage keep DAI close to one US dollar. DAI and USDS, the upgraded Sky stablecoin, are designed to be freely interchangeable at a 1:1 rate.
DAI is one of the most deeply-integrated assets in DeFi, used as collateral, trading pair, and yield asset across Aave, Compound, Curve, Uniswap, and most major protocols. It is supported on Ethereum, Polygon, Arbitrum, Optimism, Base, Gnosis, and many other networks via official bridges, and is widely used for on-chain payments, payroll, and treasury management by DAOs and crypto-native businesses.
Crypto Market Watch tracks the live Dai price ranked #24 by market capitalisation, 24-hour and 7-day price changes, market capitalisation, trading volume, circulating supply, and all-time highs and lows on this page. Data refreshes continuously throughout the trading day so investors can monitor DAI market activity in real time.
