Overview
DAI is the original decentralized stablecoin, launched by MakerDAO in December 2017 and the first stablecoin to achieve significant DeFi adoption without centralized reserves. With a market cap consistently between $4–8 billion, DAI is over-collateralized by a diversified basket of on-chain assets including ETH, WBTC, stETH, and RWA (Real World Assets including US Treasuries). MakerDAO rebranded to Sky Protocol in 2024, introducing USDS as an upgraded DAI variant.
Who Created DAI?
DAI was created by MakerDAO / Sky Protocol and launched in 2017. It is a Crypto-Collateralized stablecoin designed to maintain a stable value pegged to the US dollar.
Key Features
- +Oldest battle-tested decentralized stablecoin — survived multiple market crashes since 2017
- +Governance fully on-chain via MKR token holders — no single controlling entity
- +Over-collateralized by diversified assets including ETH, WBTC, stETH, and US Treasuries
- +DAI Savings Rate (DSR) provides native on-chain yield currently around 6–8% APY
- +PSM allows 1:1 arbitrage swaps with USDC, providing strong peg stability
- +Deeply integrated into virtually every DeFi protocol as a trusted base currency
Where to Use DAI
DAI is available on Ethereum, Arbitrum, Optimism and 5 other networks. You can use it on centralized exchanges for trading, in DeFi protocols for lending and borrowing, or as a stable store of value to park funds between trades.
Official website: https://makerdao.com