Rate Dai 0,00005441 BTC
Change (24h): 0,00%
Started at: 19-12-2017, Concept: Not mineable
Tags: Stablecoin, Ethereum (ETH) Token (ERC-20), DeFi, Polygon (MATIC) Token, Optimism Ecosystem, Harmony (ONE) Token, Fantom (FTM) Token, Binance Coin (BNB) Token (BEP-20), Base Ecosystem, Zksync Ecosystem
Calculator DAI / BTC
How is 1 Dai?
DAI | 0 BTC | |
BTC | 0 DAI |
Team
- Georgi Georgiev
- David Currin
- Rune Christensen
- Andy Milenius
- Matt Richards
- Nikolai Mushegian
- Soren Peter Nielsen
- Greg Diprisco
- Coulter Mulligan
- Jacek Czarnecki
- Chris Padovano
- James Reidy
- Daniel Brockman
- Mikael Brockman
- Mariano Conti
- Gonzalo Balabasquer
- Ryan Casey
- Thomas Pulber
- Fernando Tiberti
- Robert Horvath
- Niklas Kunkel
- Sean Brennan
- Arek Szaleniec
- Bartek Kiepuszewski
- Shannon Wu
- Michael McDonald
- Wouter Kampmann
- Lev Livnev
- Tyler Sorensen
- Jack Ek
- Denis Erfurt
- Martin Lundfall
- Jessica Salomon
- Ethan Bennett
- Henry Doe
- Haley Jensen
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Description
What is Dai?
Dai (DAI) is a decentralized cryptocurrency that operates as a stablecoin on the Ethereum blockchain. It is designed to maintain a stable value, pegged to the US dollar, making it useful for payments and as a medium of exchange in various blockchain projects. The Dai token is governed by the MakerDAO protocol, allowing holders to participate in decision-making processes regarding its stability and management. As a blockchain-based asset, Dai provides users with a reliable and transparent alternative to traditional fiat currencies in the decentralized finance (DeFi) ecosystem.
When and how did Dai start?
Dai (DAI) was launched in 2017 as a decentralized stablecoin created by the Maker Foundation, led by Rune Christensen. It was developed to maintain a stable value pegged to the US dollar through a system of collateralized debt positions and smart contracts on the Ethereum blockchain. Initially listed on major exchanges like Binance and Huobi, Dai gained traction in the DeFi space, becoming a key player in the growing ecosystem of decentralized finance. Its innovative approach to stability and governance has influenced the development of other stablecoins and contributed to the expansion of decentralized lending and borrowing platforms.
What’s coming up for Dai?
Dai (DAI) is set to enhance its stability and usability with upcoming roadmap updates focused on expanding its integration within decentralized finance (DeFi) platforms. The MakerDAO community is actively working on implementing the Multi-Collateral Dai (MCD) feature, which will allow users to back Dai with various assets, increasing its versatility and appeal. Additionally, plans for greater community engagement and governance improvements aim to empower users in decision-making processes, fostering a more decentralized ecosystem. As Dai evolves, it is expected to play a crucial role in facilitating seamless transactions and lending within the expanding DeFi landscape.
What makes Dai stand out?
Dai (DAI) is unique compared to other cryptocurrencies due to its decentralized nature and stability as a collateral-backed stablecoin, which is pegged to the US dollar. Unlike traditional fiat-backed stablecoins, Dai utilizes smart contracts on the Ethereum blockchain to maintain its value through an innovative over-collateralization mechanism, making it a standout technology in the DeFi ecosystem. Its real-world use case primarily revolves around enabling users to engage in lending, borrowing, and trading without the volatility typically associated with cryptocurrencies.
What can you do with Dai?
Dai (DAI) is primarily used for payments and as a stable medium of exchange within the cryptocurrency ecosystem. It serves as a utility token in various DeFi apps, enabling users to engage in lending, borrowing, and staking activities. Additionally, Dai plays a role in governance, allowing holders to participate in decision-making processes within the MakerDAO protocol.
Is Dai still active or relevant?
Dai (DAI) is currently active and still traded on various cryptocurrency exchanges, maintaining a stable presence in the decentralized finance (DeFi) ecosystem. Development is ongoing, with regular updates from its team to enhance functionality and security. The active community engagement further supports its status as a vital player in the stablecoin market, making it neither inactive nor abandoned.
Who is Dai designed for?
Dai (DAI) is a decentralized stablecoin built for DeFi users, developers, and businesses seeking a reliable digital currency that maintains price stability. Its target audience includes those engaged in decentralized finance applications and users looking for a stable medium of exchange in the volatile cryptocurrency market. Dai is widely adopted by various platforms within the DeFi ecosystem, making it an ideal choice for users seeking to minimize risk while participating in blockchain-based financial services.
How is Dai secured?
Dai (DAI) operates on the Ethereum blockchain, utilizing a decentralized system secured by smart contracts rather than a traditional consensus mechanism like Proof of Work or Proof of Stake. Its network security is maintained through collateralized debt positions (CDPs) that require users to lock up assets, while a network of validators ensures the integrity of transactions and governance within the MakerDAO ecosystem, providing robust blockchain protection.
Has Dai faced any controversy or risks?
Dai (DAI) has faced challenges related to its reliance on smart contracts, which are susceptible to security incidents and hacks, posing risks to users' funds. Additionally, the decentralized nature of its governance has led to controversies regarding decision-making processes and potential legal issues in various jurisdictions. While Dai aims to maintain price stability, it is not immune to market volatility, which can impact its peg to the US dollar.