Maker ProtocolDAI

Dai is an Ethereum-based stable coin (ERC-20 token) on the MakerDAO protocol that aims to maintain a peg to the U.S. dollar by locking other crypto assets in contracts.

Price History
$0.00
Vol0.00DAI
1D
1W
1M
1Y
MAX

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Market Info
Market Cap
$6,391,693,904
Diluted Market Cap
$6,391,693,904
Vol 24h
$1,121,735
Vol / Market Cap
0.0002
24h Change
0.04%
1h Change
-
24h High
$1.00
24h Low
$1.00
Latest Block
-
Block Reward
-
Hashes Per Second
-
Circulating Supply
6,392,333,138
Max Supply
Uncapped
Consensus
-
Algorithm
-
Genesis Block Date
2019-11-18
Data provided by CryptoCompare
About

A brief history
The Maker Protocol was founded in 2014 by Rune Christensen. The Maker Protocol is an open-source project whose goal was to operate a credit system that would allow users to take out loans collateralized by cryptocurrencies. DAI officially launched on the Maker Protocol in 2017 as a means to provide a non-volatile lending asset for businesses and individuals. DAI maintains its value not by being backed by U.S. dollars, but by using collateralized debt denominated in ether (ETH), Ethereum’s cryptocurrency. Through smart contracts running on Ethereum, the Maker Protocols enable borrowers to lock ETH and other crypto assets, thus collateralizing them, in order to generate new DAI tokens in the form of loans.

DAI in practice
Dai (DAI) is a decentralized stablecoin running on Ethereum. The price of DAI is soft-pegged to the US dollar, however, unlike centralized stablecoins, DAI isn't backed by US dollars in a bank account. Instead, it's collateralized by a mix of other cryptocurrencies deposited into smart contract vaults every time DAI is minted using the Maker protocol. If borrowers wish to recover the locked ETH, they will have to return the DAI to the protocol and pay a fee. Additionally, in the event of liquidation, the Maker Protocol will take the collateral and sell it using an internal market-based auction mechanism.

Project Links
ETH Creator Address
0xdD-7ACc
ETH Contract Address
0x6b-1d0f
Please verify all project links, data may change over time. Be vigilant of scams interpreting official projects.
ROI
USD
ETH
BTC
6H
-0.01%
0.00%
0.00%
1D
-0.03%
1.40%
0.87%
1W
-0.05%
0.04%
-1.82%
1M
0.00%
21.85%
4.25%
6M
-0.03%
163.30%
137.64%
1Y
-0.15%
161.88%
148.86%
3Y
-0.65%
-86.54%
-57.17%
USD
DAI

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