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    $1.00013 $ 1.00013
    +¥5204,24 -0.1% 1D
    1D 1M 1Y ALL
    LOADING DATA
    Market Cap (USD)
    6.36B
    24H Volume
    304.63M
    Circulating Supply
    6.36B DAI
    Max Supply
    6.36B DAI
    All Time High
    1.22
    Rank
    13

    About Dai (DAI)

    Established in 2015, MakeDao is a stablecoin project based on the extra-collateralized mode running on the Ethereum blockchain. Because the lending project plays a pivotal role in the entire DeFi ecosystem, MakeDao is generally considered the initiator of the DeFi era.

    MakeDao uses cryptocurrency as collateral, and the stablecoin Dai is pegged with the US dollar. The governance of the Make ecosystem is jointly decided by decentralized autonomous organizations (DAO) - "distributed autonomous organizations", rather than rules made by one institution or individual. Participating in the governance decision can make project proposals and decisions through holding the governance token MKR.

    DAI is a crypto stablecoin based on the Ethereum network. DAI is created when users lock extra-collateralized loans. It uses the target rate feedback mechanism (TRFM) to maintain a 1:1 stability of the value between US dollars. It will be offset when the user repays the loan.


    How does MakerDAO (DAI) Work?

    In the Maker system, there is a smart contract (CDP) that implements the collateralized loan logic. If users want to borrow DAI, they must first establish a collateralized debt position (CDP), and then use digital assets as collateral to generate DAI. After acquiring DAI, users shall use DAI to invest in more promising assets. Finally, buying back the DAI, users shall repay the DAI and part of the expenses to get back the collateralized assets.

    This can be simply understood as an intermediary institution for collateralized lending on Ethereum. When users stake ETH on MakeDao, MakeDao will issue a corresponding amount of DAI. MakeDao adjusts supply and demand by controlling the lending rate and maintains the pegging of Dai and USD.

    In particular, in order to avoid the risk of price fluctuation, users need to borrow DAI with digital currency, and lend different amounts of DAI according to different collateralized rates. When the system finds that some assets are at risk, it will liquidate the assets with high risk, and the CDP lending vouchers with a collateralized rate of less than 150% will be cleared first. Therefore, if the user does not want to be cleared by the system, he/she must deposit more ETH or repay DAI into the CDP lending vouchers to improve the collateralized rate and ensure that his/her collateralized debt position is maintained in a safe range.

    When the collateral price drops to a certain extent, the collateral will be liquidated at a price slightly lower than the market price to avoid losses on the platform. After liquidation, CDP lending vouchers will be closed, and users will no longer be able to redeem the previously staked ETH by repaying the DAI. Meanwhile, the system will deduct certain penalties and handling fees from users, and the DAI obtained by auction of ETH will be burnt, and the remaining assets can be retrieved by users.


    What is MakerDAO (DAI) ?

    DAI is a stablecoin guaranteed by full collateralized assets. Through a series of financial incentives, its value is guaranteed to remain 1:1 stable with the US dollar.

    All the Dai in circulation are backed by extra collateral, which is hosted in the auditable and publicly viewable Ethereum smart contract.

    Once DAI is generated, it can be used like other cryptocurrencies: it can be freely sent to other people, used to buy goods or services, or held as a tool to hedge market volatility.
    Expand

    Dai Market

    Currency Price 24H Change Action
    DAI /USDT
    0X Margin
    $1.00013 -0.1% Trade
    DAI /USDT
    Spot
    $1.00013 -0.1% Trade

    Dai News

    News
    Announcements
    Daily Flash | Number of Bitcoin Holders Has Been Rising Despite Bear Market, McDonald‘s Begins To Accept Bitcoin and Tether In Swiss Town

    Daily Flash | Number of Bitcoin Holders Has Been Rising Despite Bear Market, McDonald‘s Begins To Accept Bitcoin and Tether In Swiss Town

    Fundamental and Technical Outlook 👓 Macro For the past few months, a bear market has dawned on the market, bleeding red across the top one hundred assets and dipping the total market cap below the one trillion thresholds. However, as Bitcoin's correlation to stocks and bonds progressive...
    Source: Gate.blog Posted: 2022-10-05
    Daily Flash | SEC Charges Kim Kardashian With Unlawfully Promoting EthereumMax, Philippine Peso Hits New Low Against The Dollar

    Daily Flash | SEC Charges Kim Kardashian With Unlawfully Promoting EthereumMax, Philippine Peso Hits New Low Against The Dollar

    Fundamental and Technical Outlook Macro For weeks now, analysts have begun to speculate that Bitcoin’s correlation to the stocks and bonds market is progressively weakening, furthered by the fact that the US stock market has witnessed the longest run of quarterly declines since the 2008 f...
    Source: Gate.blog Posted: 2022-10-04
    Daily Flash | Hacker Returns 70% of the Funds Stolen From Transit Swap DEX, US Stocks Have The Longest Run of Quarterly Declines Since 2008

    Daily Flash | Hacker Returns 70% of the Funds Stolen From Transit Swap DEX, US Stocks Have The Longest Run of Quarterly Declines Since 2008

    Fundamental and Technical Outlook Macro In light of various analysts speculating that Bitcoin is finally decoupling from the stocks and bonds markets, the US stock market has witnessed the longest run of quarterly declines since the 2008 financial crisis. Over the past few weeks, the enti...
    Source: Gate.blog Posted: 2022-10-03
    Daily Flash | BTC gains as Wall Street slumps, Credit Suisse says commodities futures could plunge 13% or more

    Daily Flash | BTC gains as Wall Street slumps, Credit Suisse says commodities futures could plunge 13% or more

    Fundamental & Technical Outlook Macro As 2022 enters Q4, gold, silver, copper, oil, and other commodities all seem overvalued in technical terms and could fall 13% or more according to Credit Suisse. On Thursday, U.S. markets ended sharply lower on worries that th...
    Source: Gate.blog Posted: 2022-09-30
    Daily Flash | Cryptocurrencies rose on US markets relief rally but Global bond yields are not looking good for the economies

    Daily Flash | Cryptocurrencies rose on US markets relief rally but Global bond yields are not looking good for the economies

    Fundamental & Technical Outlook Macro The IMF is urging Liz Truss, U.K. prime minister to "re-evaluate" the tax cuts amid the bond turmoil that had forced the hand of BoE, warning that the new measures are likely to fuel a cost-of-living crisis. The Bank o...
    Source: Gate.blog Posted: 2022-09-29
    Daily Flash | Global FX markets are in turmoil, and the Fed says Digital Dollar will not be anonymous and is not a priority

    Daily Flash | Global FX markets are in turmoil, and the Fed says Digital Dollar will not be anonymous and is not a priority

    Fundamental & Technical Outlook Macro On Wednesday, the pound is at a record low on concerns over Britain's radical tax cuts to spur growth, while the dollar edged up after Treasury yields surged overnight. In the U.K., the sterling and government bonds are under...
    Source: Gate.blog Posted: 2022-09-28
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