DAI Price Today

DAI is a decentralized stablecoin created in 2015 by MakerDAO and built on the Ethereum blockchain. MakerDAO is a decentralized autonomous organization (a kind of company that runs itself in a decentralized manner via the use of smart contracts) on the Ethereum blockchain. DAI aims to be a truly decentralized crypto asset.

Why DAI is Unique

1. DAI's reserve funds are a mix of other crypto assets as collateral every time a new DAI is minted (created) and soft-pegged to the US dollar
2. DAI isn't run by a private company but by a decentralized autonomous organization using software protocol
3. DAI is developed more democratically - by direct voting using its governing tokens Maker (MKR)
4. DAI's system is more transparent and less prone to corruption

What Gives DAI Value?

1. DAI is using crypto assets loaned and pledged in ETH for its reserved funds
2. A stable price following US Dollar

What Affects the Price of DAI?

1. US dollar's price
2. Supply and demand of DAI

How Secure is The DAI Network?

DAI is an Ethereum-based, ERC-20-compatible token. Therefore, it is secured by Ethereum's Ethash algorithm.

FAQ

What makes Dai different from other stablecoins?
Compared to other stablecoins, Dai claims to be a truly decentralized stablecoin because MakerDAO is an autonomous body rather than a company.

Is one Dai always worth exactly one USD?
No, DAI is soft-pegged and doesn't perfectly track the price of US dollar. But, DAI offers stability and low volatility against the US dollar.