Dai is an algorithmic stablecoin created by the Ethereum-based protocol, MakerDAO. It uses a price stabilization algorithm that helps it track a particular unit price which in this case, is $1. The main purpose of Dai is to use for collateral-based loans, eliminating the need for an intermediary and creating a transparent, permissionless system with few barriers.
The Dai price on YouHodler is aggregated from several different cryptocurrency exchanges in an attempt to provide the most accurate price possible. YouHodler combines Dai price rates from Binance, Kraken, Huobi, OKEx, and others.
To monitor Dai prices efficiently, we recommend downloading our app for iOS and Android compatible smartphones. This allows you to follow the latest Dai price anytime, anywhere.
The crypto market constantly changes, however, our interest rates are stable as ever. Since 2019, our Dai savings account has featured 12% APR + compounding interest. Stability you can trust.