Dai DAI
$0.99991 0.01%
Latest Updates
Updated at 12:24$5,347,389,702.46
#22
$652,975,712.11 4.98%
-$0.00005 0.01%
-$0.00036 0.04%
What about DAI?
DAI is an Ethereum-based stablecoin whose issuance and development are overseen by the Maker Protocol and the decentralized autonomous organization MakerDAO. Being a stablecoin means DAI's price is soft-pegged to the US dollar, which is the main advantage of this cryptocurrency. DAI is also unique due to the fact that it’s collateralized by a mix of other cryptocurrencies that are put into smart-contract vaults each time fresh DAI is minted. Another significant benefit is that DAI is managed by a decentralized autonomous organization via a software protocol, as opposed to a private firm. As a result, all token issuance and burn events are handled and publicly documented by self-enforcing smart contracts powered by Ethereum, making the system overall more transparent and less susceptible to fraud. DAI is one of the top five largest stablecoins by market capitalization.
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