Dai (DAI) price today
Dai is the oldest decentralized stablecoin still in use: it aims to be worth 1 dollar and is issued by smart contracts against deposited collateral, with no issuing company.
Dai price now
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- Price in US dollars (USD)
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- Price in Brazilian reais (BRL)
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Market data source: CoinGecko, with a reference USD/BRL rate. Values can lag by a few minutes.
What is Dai?
Dai was launched in 2017 by MakerDAO, one of the first decentralized finance protocols on Ethereum. In 2024, the project was renamed Sky and created USDS as the upgraded version of the stablecoin.
Dai remains in circulation and can be converted into USDS at a 1-to-1 rate.
How Dai works
Users deposit collateral in smart contracts and issue Dai as a loan. The collateral must stay worth more than the debt; if it falls too far, the position is liquidated automatically.
Over time the backing came to include other stablecoins and real-world assets such as government securities. A direct swap module with USDC helps hold the peg.
What DAI is used for
- Dollar reserve inside decentralized applications.
- Collateral and lending currency in DeFi protocols.
- Yield through the savings rate set by governance.
Risks and points of attention
- Partial dependence on centralized stablecoins and off-chain assets in the backing.
- Smart contract risk and governance decisions.
- Temporary loss of the peg, as happened in March 2023 alongside USDC.
- The ecosystem's gradual transition to USDS may reduce Dai's liquidity.
Key facts
| Symbol | DAI |
|---|---|
| Asset type | Stablecoin |
| Launch | 2017 |
| Issuer or organization | Sky protocol (formerly MakerDAO) |
| Network | Ethereum, with versions on other networks |
| Maximum supply | No cap: issued against deposited collateral |
Reference data checked on October 3, 2026 against CoinGecko and the project's official pages.
Official links
Frequently asked questions about Dai
Does Dai still exist after the move to Sky?
Yes. The token keeps working and can be swapped for USDS 1 to 1 at any time through the protocol.
Who controls Dai?
No single company. Rules are set by Sky protocol governance, through votes by holders of the governance token.
Is Dai backed by dollars?
Not directly. Its backing is the collateral deposited in the protocol, which includes crypto assets, other stablecoins and real-world assets.
Where does the Dai price on this page come from?
The panel shows the DAI price in US dollars and Brazilian reais, with change, volume and market capitalization. Data comes from CoinGecko, uses a reference exchange rate and can lag by a few minutes.