Company OverviewFounded
in 2014 and registered in Copenhagen, Denmark, Dai is a decentralized stablecoin designed to maintain a stable exchange rate with the U.S. dollar. It is issued and governed by the MakerDAO (Maker Decentralized Autonomous Organization) protocol and is built on the Ethereum blockchain. Unlike traditional fiat-backed stablecoins, Dai uses an overcollateralization mechanism, using crypto assets as collateral to be generated and burned through smart contracts, thus maintaining its value stability.
core functions of products and servicesDai include:
Generate Dai: Users generate Dai in an over-collateralized manner by depositing crypto assets (such as ETH, WBTC, LINK, etc.) into the Maker Vault (formerly known as Collateralized Debt Position (CDP).
Burn DAI: After the user repays the loan and the corresponding stability fee, the loaned Dai will be burned and the corresponding collateral assets will be released.
Dai Savings Rate (DSR): Users who hold Dai can deposit it into DSR contracts and earn interest, and the interest rate is determined by MKR holders through governance voting.
Governance mechanism: MakerDAO adopts decentralized governance, and MKR token holders can participate in voting to decide on key matters such as protocol upgrades, risk parameters, and collateral asset types.
Technical
ArchitectureDai's technical architecture is based on the Ethereum blockchain, and the main components include:
Maker Vaults: smart contracts for users to deposit collateral assets, supporting a variety of crypto assets as collateral.
VAT Contract: The core contract that is responsible for managing the system's total debt, collateral, and the generation and destruction of Dai.
Join contract: Each supported collateral asset has a corresponding join contract, which is responsible for handling the access and withdrawal operations of a specific asset.
Stability Fee: A fee to be paid for each loan, denominated in Dai, with an interest rate determined by MKR holders through governance voting.
DaiJoin Adapter: is responsible for generating and destroying Dai to ensure the stability of the system.
Market PerformanceAs
of May 2025, Dai's market performance is as follows:
Current Price: Approximately $1.00 USD
Market Cap: Approximately $3.54B USD
24-Hour Trading Volume: Approximately $152M USD
Circulating Supply: Approximately 3.5 Billion DAI
Historical High Price: Approximately $1.11 USD
Dai is one of the most widely used stablecoins in the decentralized finance (DeFi) ecosystem, widely used in lending, trading, saving, and other scenarios.
SummaryAs
a decentralized stablecoin, Dai has become an important part of the DeFi ecosystem with its transparent mechanism and decentralized governance. Its multi-collateralization mechanism and flexible governance structure make it highly stable and adaptable in the cryptocurrency market. However, users still need to be aware of the potential impact of smart contract risks and market volatility when using Dai.
