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    $0.0221794 $ 0.0221794
    +¥5204,24 -0.3% 1D
    1D 1M 1Y ALL
    LOADING DATA
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    Market Cap (USD)
    436.07M
    24H Volume
    479.27
    Circulating Supply
    19.68B CDAI
    Max Supply
    --
    All Time High
    0.0315909
    Rank
    82

    About cDAI (CDAI)

    Compound Dai (cDAI) is an ERC20 compound governance token launched by Compound in November 2019. In the Compound governance system, community governance replaces the managers of the Compound protocol, giving users the freedom to suggest, debate, and revise the Compound.

    As far as DeFi is concerned, the lack of sufficient historical data and benchmarks makes it difficult for the market to assess the risks of investing in DeFi. While cDAI uses the Compound loan protocol to automatically obtain interest, investors can reduce risks when using or investing in DeFi products.


    How CDAI works

    Each asset supported by the Compound protocol is integrated through the cToken contract. By providing assets to the protocol to mint cToken, users can earn interest as long as they hold cToken. cToken can mark the original asset, that is to say, cDAI can mark DAI. Users can obtain interest by holding cDAI after providing DAI to the protocol. After being redeemed, cDAI can be converted into a corresponding DAI.

    cDAI uses the Compound loan protocol, which uses an algorithm to determine the interest rate for borrowing in the cDAI pool. The algorithm automatically calculates the interest rate based on the supply and demand of users who lend and borrow this coin. Simply put, cDAI interest rates will increase with demand, and conversely, when demand is low, interest rates will decrease. It floats all the time, the same for all investors.

    Compound allows users to use cTokens as collateral, so cDAI can also be easily lent out of the protocol as a collateral asset and used elsewhere in the Ethereum ecosystem, and the cDAI pool lending rate also determines the cost of borrowing DAI assets here.


    What is CDAI?

    Compound Dai (cDAI) is a compound protocol governance token. The current total supply is 124.284 billion cDAI. As one of the main ways to interact with the Compound protocol, the cDAI contract creates its own currency market. Users will always need to use cDAI contract when they mint, redeem, borrow money, repay a loan, liquidate a loan, and transfer cDAI.

    The DAI corresponding to the underlying asset is from the MakerDAO project, but there is currently a certain price deviation between cDAI and DAI in the market. The Compound community has the right to update or change the cDAI interest rate model by initiating new governance proposals.


    CDAI Crypto Wallet

    In addition to placing CDAI in the Gate.io exchange to facilitate trading, CDAI can also be placed in the crypto wallet.
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