Name: Dai
Brand: Binance
Price: 1 USD
Availability: InStock

Price of Dai Today

The live price of Dai is $1.000028 per (DAI / USD) with a current market cap of $5.37B USD. 24-hour trading volume is $125.79M USD. DAI to USD price is updated in real-time. Dai is +0.05% in the last 24 hours with a circulating supply of 5.37B.

DAI Price History USD

Date Comparison	Amount Change	% Change
Today	$0.000493	+0.05%
30 Days	$0.000322	+0.03%
60 Days	$0.000211	+0.02%
90 Days	$0.000143	+0.01%

Dai Chart Performance

24h Low & High

Low: $0.999355

High: $1.000198

The highest and lowest price paid for this asset in 24 hours.

All Time High

$3.668398

The highest price paid for this asset since it was launched or listed.

Price Change (1h)

The percentage change in price for this asset compared to 1 hour ago.

Price Change (24h)

+0.05%

The percentage change in price for this asset compared to 24 hours ago.

Price Change (7d)

+0.03%

The percentage change in price for this asset compared to 7 days ago.

24h Low & High

Low: $0.999355

High: $1.000198

All Time High

$3.668398

Price Change (1h)

Price Change (24h)

+0.05%

Price Change (7d)

+0.03%

About Dai (DAI)

Dai is a decentralized network whose native cryptocurrency, DAI, launched on the Ethereum blockchain network at the end of 2017. DAI is a stablecoin that maintains its peg to the US dollar through a unique system.

An intricate network of smart contracts and ecosystem participants maintains the DAI-USD peg, and DAI is maintained and regulated by a governance system implemented by MakerDAO and its MKR governance token.

There are two versions of Dai: Single-Collateral Dai (SAI) and Multi-Collateral Dai (MCD). SAI was initially backed only by Ethereum, had a fixed stability fee, and used automatic liquidation. MCD can be backed by multiple types of collateral, has a more flexible stability fee, and uses a keeper system for liquidation.

SAI has been replaced by MCD and is no longer being developed or supported. SAI holders were able to migrate to MCD. The current price of DAI is updated and available in real time on Binance.

The depegging of DAI in February 2023 led to a $3 billion loss for the protocol, prompting discussions of a backup system. To prevent future depegging of its stablecoin DAI, MakerDAO is considering using an emergency switch. MakerDAO's emergency switch is designed to give the protocol more flexibility in responding to market conditions and maintaining the stability of its stablecoin.

People Also Ask: Other Questions About Dai

What is DAI Used For?

DAI is primarily used for trading and investing in cryptocurrencies, as it provides a stable store of value that can be used to hedge against market volatility. It can also be used to make purchases and payments, as it is accepted by a growing number of merchants and businesses. Additionally, DAI can be used as collateral to secure loans or as a means of transferring value across borders without incurring high fees or delays.

How Does the Dai Network Operate?

DAI works with the MAkerDAO ecosystem in a unique and specific way. MakerDAO’s smart contracts represent the decentralized applications (DApps) that facilitate an over-collateralization and repayment process to incentivize network participants to maintain and govern the Dai network. This process is used to keep the ecosystem operating and the token’s value reflective of the US dollar.

Ether or other cryptocurrencies are deposited as collateral by network participants, who then borrow DAI at a pre-determined rate against the value of their deposit. Loans can be liquidated by anyone if the collateralization ratio falls below a pre-set minimum level. After the loan and interest are repaid, the returned DAI is destroyed and the collateral is released back to the individual.

This process is used to keep the DAI’s value pegged to that of the US dollar. The MakerDAO protocol manages this by controlling the types of accepted collateral, collateralization ratios, and the interest rates for borrowing and storing DAI.

Who is the Founder of DAI?

The DAI stablecoin was created by the MakerDAO project, which was founded by Rune Christensen in 2015. MakerDAO is a decentralized autonomous organization (DAO) that operates on the Ethereum blockchain, and the DAI stablecoin is its flagship product. Christensen continues to be involved in the development and governance of the MakerDAO ecosystem.

What is the Maximum Token Supply of DAI?

There is no maximum supply for DAI since it is created based on the collateral provided by those who demand it. At the time of writing, the circulating supply of DAI is 5.2 billion.

What Makes DAI Different From Others?

DAI offers a key advantage by being managed through a decentralized autonomous organization and self-enforcing smart contracts, promoting transparency and reducing the risk of corruption. Additionally, the democratic governance structure allows for direct voting by participants, ensuring a more inclusive decision-making process. DAI's decentralized structure makes it an attractive alternative to traditional centralized financial systems.

How To Buy Dai (DAI)?

DAI can be purchased directly from Binance by using a debit or credit card. DAI can also be traded for other cryptocurrencies on the Binance Exchange. Live DAI price is updated in real-time on the Binance Exchange. Additionally, DAI price and purchase information is available in our How to Buy Dai Guide.

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