DAI – decentralized stablecoin
What is DAI (DAI)?
DAI was created in December 2017 on the MakerDAO platform (a platform for issuing stablecoins), which runs on the Ethereum blockchain. Rune Christensen, one of the founders of the MakerDAO platform, was chosen as the head of the project for the release and development of the DAI cryptocurrency.
In 2018, another company, Andreessen Horowitz, made a $15 million investment in the MakerDAO project. The investment was in the form of buying 6% of all MKR (MKR is the token of the MakerDAO platform) that were in circulation at that time.
There was a lot of controversy around the prospects for the development of the DAI cryptocurrency, which led to the fact that the CEO of the company left it in 2019. In 2020, due to the coronavirus pandemic, the DAI rate jumped to $1.11, and then gradually returned to $1.
DAI cannot be stacked or mined, and new coins can only be created by users. That is why the project did not have an ICO.
The main feature and uniqueness of DAI is its complete decentralization. The emission of DAI is not affected by the decision of any particular company and has only one limitation – it is constantly backed by the corresponding amount of ETH. Thus – DAI has ETH, which are locked in smart contracts, which ensures exchange rate stability and decentralization.
DAI can be used to transfer money or pay for goods or services. The part of the coins that is not used is burned. The developers believe that this improves the stability of the exchange rate, as the balance of supply and demand is maintained.
DAI mining
DAI cannot be mined in any way.
How to purchase DAI?
You can buy DAI on most crypto exchanges or through a crypto exchange such as Leoexchanger!
DAI price dynamics (USD)
As of August 2022, 1 DAI costs approximately $1.00. The total market capitalization is $7,006,752,706.
The price movement chart is shown below:
How to store DAI?
DAI can be stored in almost any Ethereum crypto wallet or on your crypto exchange account.
More information:
