What is Dai(DAI)?
DAI is an ERC20 based stable token that has developed on the Ethereum(ETH) blockchain technology. It is a stable value of one U.S. dollar, which the MakerDAO has issued. The DAI is the first collateral-backed cryptocurrency, and it can maintain its stable 1:1 value with the U.S. dollar by locking other crypto assets in the contract. Stable cryptocurrency is not rare and new now. We have many stable cryptocurrencies which are in demand globally. Stable crypto includes USDT, BUSD, USDC, PAX, Gemini Coin, and upcoming facebook's Diem. DAI is a stable Ethereum token, and it is used to pay for things and easily transferable between Ethereum wallets.


<h3>Who created DAI?</h3>

DAI is a product of MakerDAO and founded in 2014 by Rune Christensen. His first project, MakerDAO and first introduced in 2015. After that, the maker protocol started making DAI design, and it was launched in 2017 December on the Marker Protocol.

&nbsp;

<h3>Why use DAI?</h3>

Users and investors are interested in buying DAI because it offers efficiency and transparency benefits and protects from price volatility. DAI is the same as other cryptocurrencies. It is borderless, programmable, and can transfer quickly, but the bonus point is price stability. You can purchase and transfer DAI to exchange other cryptocurrencies.&nbsp;&nbsp;

&nbsp;

<h3>How does Dai work?</h3>

DAI is a crypto asset, and cryptocurrencies can collateralize it. If you are planning to acquire DAI on the other side, they can spend ETH to purchase the dollar equivalent to DAIanf they can collateralize ETH or any other asset with the help of Maker protocol.

&nbsp;

CDPs (Collateralized Debt Positions) is a smart contract on maker protocol, and with the help, users can leverage to lock their collateral assets and generate DAI.

&nbsp;

DAI offers high collateralization, which means the deposit amount should be higher than DAI. For instance, to receive $100 DAI, the user has to spend $200 in Ethereum(ETH). That means to users&#39; account for the potential decrease in the value of ETH. Additionally, If ETH down by 25%, The $100 in the DAI will be safe and collateralized in Ethereum by $150. If you want to recover stored ETH, the user has to return DAI by paying a stable fee.&nbsp;

&nbsp;

<h3>The circulating supply of DAI?</h3>

DAI is stable and currently ranked number #20 with the $4.85($ 4,846,312,004) billion market cap. The current circulating supply is 4.85(4,845,139,918.52) billion DAI out of the total supply of 4.85(4,845,139,918.52). The current 24h volume of DAI is $ 968.01($ 968,014,981) million.&nbsp;

&nbsp;

<h3>How to buy DAI?</h3>

Maker Dai aims to create stable coins, and the idea behind this is to handle the volatility. If you are planning to buy DAI, you have to require either BTC or Ethereum for trading.

&nbsp;

There are several ways to buy DAI. It is available on every exchange, but buying from top exchanges makes our purchase secure. There are only three 3 to buy and trade DAI includes:

<ul>
	<li>Signup to exchanges</li>
	<li>Verify your identity and despite funds</li>
	<li>Start buying and trading Ripple.</li>
</ul>

We are listing down some top exchanges where you can buy DAI easily, and that includes:

<ul>
	<li>Binance</li>
	<li>Kraken&nbsp;</li>
	<li>Huobi Global</li>
	<li>OKEx</li>
	<li>KuCoin</li>
	<li>HitBTC</li>
	<li>Gate.io</li>
	<li>Upbit Market</li>
</ul>

Ethereum

Uniswap

Bitcoin ETF

PEPE100 (PEPE100x) has gained by as much as 50% overnight, with the new meme token reaching a record high of $0.00386 several hours ago. This makes it the latest in a seemingly endless string of new meme coins to enjoy big opening rallies on Uniswap this year, yet it seems that P...

As PEPE100 Leaps 50x Overnight, This Hidden Crypto Just Surpassed $1.8 Million in Funding – 100x Possible?

BLUR, a crypto backed by Paradigm, experienced a surge in whale activity on November 27, with large holders transferring over 7 million BLUR to exchanges like Binance and OKX. This influx of tokens to exchanges suggests a potential increase in supply, leading to reduced demand an...

Blur (BLUR) price drops as whales move 7 million BLUR to exchanges

The United States Securities and Exchange Commission (SEC) reported that their attempt to serve HEX Founder in his lawsuit to appear in court has been unsuccessful. The US SEC struggles […] The post US SEC Unsuccessful At Serving Lawsuit to HEX Founder appeared first on BitcoinWo...

US SEC Unsuccessful At Serving Lawsuit to HEX Founder

Bolt, Nigeria’s leading ride-hailing company, concluded its groundbreaking Bolt Den initiative under the Bolt Accelerator Program with an…

10 drivers awarded €25,000 seed fund in Bolt Nigeria’s Den Initiative

Richard Teng is taking over as Crypto exchange Binance’s new CEO, replacing Changpeng Zhao (CZ) after he pled guilty to financial crimes and resigned.Binance has also admitted it violated sanctions, aided money laundering, and...

Dai PriceDAI

Dai Price Today

DAI to USD

Compare Dai with other crypto

DAI to USD

Dai News