DAI
DAI Stablecoin
active
Crypto Backed
Market Cap $4.3B
DAI is a decentralized stablecoin by Sky Protocol, maintaining its USD peg through over-collateralization.
Key Data
| Backing | Over-collateralization with crypto assets |
| Redemption | DAI can be redeemed by repaying the corresponding debt in Maker Vaults or converted to USDS at a 1:1 ratio. |
| Peg Currency | USD |
| Launched | 2017 |
Supported Networks
EthereumArbitrumOptimismBasePolygon
Overview
DAI is a decentralized stablecoin originally launched by MakerDAO, now part of Sky Protocol, maintaining its peg to the US dollar through an over-collateralization model.
How It Works
Users deposit various crypto assets into Maker Vaults, generating DAI as a debt obligation. The system ensures stability by requiring collateralization ratios above 100%.
Reserve Backing
DAI's peg is maintained through over-collateralization and the Peg Stability Module (PSM) for 1:1 swaps with other stablecoins like USDC.
Supported Networks
DAI is issued on Ethereum and has expanded to networks like Arbitrum, Optimism, Base, and Polygon.
Market data via CoinGecko