Arbitrum Ecosystem

Avalanche Ecosystem

Base Ecosystem

BNB Chain Ecosystem

Cosmos Ecosystem

Ethereum Ecosystem

Gnosis Ecosystem

Harmony Ecosystem

Optimism Ecosystem

Polygon Ecosystem

Rootstock Ecosystem

Scroll Ecosystem

Sonic Ecosystem

StarkNet Ecosystem

<p>DAI is a stablecoin that is soft pegged to the US dollar. It is decentralized, unbiased, collateral-backed, and is also the key to the MakerDAO lending system. Currently, MakerDAO is one of the largest and most established dApps running on the Ethereum blockchain.</p><p>The MakerDAO protocol allows anyone with ETH to lend themselves money in the form of DAI stablecoin. Dai is resistant to hyperinflation since it is literally designed to minimize volatility and resist aggressive price fluctuations. Essentially, anyone anywhere can generate the Dai stablecoin against crypto collateral assets.</p><p>DAI in its current form was launched in 2018. MakerDAO created token as the new Multi-Collateral Dai token. This replaced the previous one, which has been renamed to SAI (Single-Collateral Dai).</p><p>Since the release of Single-Collateral Dai in 2017, Dai’s success has grown together with the broad industry adoption of stablecoins. Stablecoins are cryptocurrencies designed to maintain price value and function similarly to FIAT currencies. Stablecoin popularity has sharply risen, and they have become an integral part of DeFi decentralized applications as a whole.</p><h3>What are Multi-Collateral DAI key features and how does it work?</h3><p>MakerDAO works by users locking up ETH in smart contracts on the MakerDAO network, network participants then have borrow to a percentage of the collateral value. This depends on the Liquidation Ratio of a certain vault. The more ETH locked in the smart contracts, the more DAI is generated. For a user to access their locked ETH, they must pay back the DAI loan along with any fees. The DAI stablecoin system also accepts any ERC-20 asset that has been approved by MKR holders as collateral.</p><p>Generated DAI is kept stable through the collateral assets that are deposited into Maker Vaults on the MakerDAO Protocol. The value of the collateral deposited must be more than the total value of the DAI issued to the user. There is a benefit to locking up collateral since users can deposit riskier assets and get stablecoin in return, thus, minimizing their overall risk exposure. Some of the most popular collateral to be locked is ETH and USDC.</p><p>The Maker Protocol uses two tokens in its model. As mentioned, the first is the collateral-backed DAI stablecoin. The second is the MKR token that is used for protocol governance. MKR is utilized by stakeholders to maintain the system and manage the DAI stablecoin. For example, MKR token holders must first vote and approve each ERC-20 token before it can be used as collateral. One MKR token is equal to one vote.</p><p>MKR itself is an ERC-20 asset running on the Ethereum blockchain and it can be minted or burned depending on how close the DAI stablecoin is to the US dollar.&nbsp;</p><h3>What can Multi-Collateral Dai (DAI) be used for?</h3><p>Once in a user’s possession, DAI can be used just like any other crypto asset. For example, it can be sent to other users, traded and exchanged for other cryptos, and used as payment for services. DAI can also be held as savings through Maker’s DAI Savings Rate (DSR).</p><p>DAI is also used as the deferred payment method to settle debts in the MakerDao Protocol.</p><h3></h3>

DAI is a collateral-backed stablecoin pegged to the US dollar issued by MakerDAO.

CryptoRank Premium

Add New {name} Alert

Price Range

New price alert added

Check your email

We've sent you an email with confirmation link. If you don't have it in your inbox - check your spam box.

CryptoRank App

See CryptoRank with...

Choose a convenient way to connect your EVM wallet.

Privacy & Terms Agreement

You are about to leave CryptoRank

External link warning

Market Data API

Track your wallet balances, view asset allocations, get real-time price data, and more

Easily manage your assets with our Mobile App

Join and earn by referring new subscribers!

Explore blockchain platforms: ecosystem projects, TVL, and other key metrics

Name

Complete tasks and earn rewards

CryptoRank Spaceships

Please enter your valid email address to proceed with registration.

Sorry, but your {social} account doesn't have an email address.

IDO/ICO analytics: post-listing ROI and launchpad comparisons.

Track project announcements and campaigns. Spot early opportunities so you don’t miss airdrops and rewards.

Exchanges overview: volumes, listings, market share.

Track rounds, stages, and amounts. See investors and fund portfolios.

Monitor DeFi & NFT, positions and P&L. Popular chains and a mobile app supported.

Lite gives core tools ad-free. Premium adds advanced analytics, full tables, and exclusives.

TGE calendar and vesting flow. Analyze unlock volumes and percentages to gauge supply pressure and plan your moves.

Get in touch with us for info about listings, tokens, exchanges, IDOs, or any other promotional inquires

Interested in a partnership?

Advanced Tools and Ad-Free Experience for In-Depth Analysis

Enjoy advanced analytics, ad-free experience, and exclusive insights on CryptoRank

Payment Successful!

Your subscription is now active!

Add promocode

Select plan

Total Due:

Improves token ranking and increases exposure.

Visibility Boost

Accelerates momentum and helps stay in trending.

Trending Score Growth

Boost Benefits

Boost visibility, raise the Trending Score, and unlock the Premium Ticker for {symbol}!

Purchasing a Boost does not guarantee a specific ranking or position. CryptoRank makes no representations or guarantees regarding the impact of Boost on asset visibility. All purchases are final and non-refundable.

Want to learn more about Boost? <link>Check out the guide!</link>

Give {name} a {boost}

Subject

The account is suspected of violating CryptoRank.io terms of use. You may continue to use the website except for personal features.

Your account has been suspended

By accessing and using our Site, you confirm that you are at least 18 years old or the legal age of majority in your jurisdiction. Please also ensure you have read and agree to our Terms of Use and Privacy Policy & Cookies Statement

Explore the most complete  team of %coinname%, get data about their activities and contact details on CryptoRank.io

%coinname% Team

Rune Christensen

DaiDAI

Dai Team

Current team