Rank #3DAICrypto-Backed

Dai

Pegged to

USD

Market Cap

$5.30B

24h Volume

$300.00M

Circulating Supply

5.30B DAI

Total Supply

5.30B DAI

Peg Target

USD

Collateral Type

Crypto-Backed

Issuer

MakerDAO

Launch Date

18-12-2017

About Dai

Dai (DAI) is a decentralised stablecoin created by MakerDAO, pegged to the US dollar through an autonomous system of smart contracts on Ethereum. Users generate DAI by depositing collateral (ETH, WBTC, stablecoins, and real-world assets) into Maker Vaults, maintaining overcollateralisation ratios. DAI is governed by MKR token holders who vote on risk parameters, collateral types, and protocol upgrades. As the largest decentralised stablecoin, DAI is a cornerstone of DeFi and is widely used in lending protocols, DEXs, and yield farming strategies. The protocol has evolved through the SubDAO framework and continues to integrate real-world assets into its collateral base.

Supported Blockchains

Ethereum Polygon Arbitrum Optimism BNB Chain Gnosis

Pros

Truly decentralised — no single issuer
Battle-tested since 2017
Transparent on-chain collateral
Governance-driven parameter changes

Cons

Increasingly backed by centralised assets
Complex liquidation mechanics
Governance attack surface via MKR token
Lower capital efficiency than algorithmic designs

Key Features

Decentralised governance via MKR token

Over-collateralised by crypto and RWA assets

Automated liquidation mechanisms

Dai Savings Rate (DSR) for yield

Permissionless minting via Maker Vaults

Integrated across 400+ DeFi protocols

Stablecoin Information

Community & Socials

Website Twitter / X Discord Telegram Reddit GitHub

Dai