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What is Dai?

What is Dai?



What is Dai (DAI)?

At first glance, Dai (DAI) may seem like just another U.S. dollar-backed stablecoin but it has a unique twist to it. In order to manage its price stability, Dai’s value is regulated by a decentralized, autonomous organization called MakerDAO, part of the Maker Protocol.

The Maker Protocol is the foundation of Dai and was created by Rune Christensen. Using the Maker Protocol, anyone in the world can make DAI stablecoins using a variety of cryptocurrencies as collateral. This includes, but is not limited to, Ethereum (ETH), Basic Attention Token (BAT), USD Coin (USDC), Compound (COMP), and more. 

Thanks to Dai’s decentralized nature, Dai hodlers enjoy unlimited and unrestricted access to their funds. There are no intermediary banks, approval systems, or credit checks to use Dai. Furthemore, the Maker Protocol enrolls routine audits and enables top tier security measures to make the Dai ecosystem safe for everyone. 

Ultimately, Dai provides a vast amount of efficiency, flexibility, and utility for crypto enthusiasts to use CeFi and DeFi dapps with the stable benefits of the US dollar. If you buy Dai on YouHodler you can stake Dai to earn interest, buy crypto with Dai and deposit Dai to any wallet of your choice. 

What is the Dai price?

YouHodler aggregates prices from top centralized exchanges to provide an accurate Dai price and charts. 

Where to buy Dai?

The easiest way to buy Dai is to purchase it through a crypto app like YouHodler. Our universal cryptocurrency exchange service lets you convert any crypto, fiat, or stablecoin with competitive fees.

How to earn interest on Dai?

The best way to earn interest on Dai is by depositing it in a YouHodler savings account. Interest payments occur weekly and YouHodler features compounding interest. 

How to trade Dai?

Leverage market volatility to stack your crypto portfolio and trade Dai with Multi HODL. Multi HODL is a user-friendly tool to take advantage of market swings in either direction. Become an “active HODLer” today.

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