What is Dai?
The Dai cryptocurrency is created on the Maker platform to be a stable currency closely pegged to the value of 1USD. The Maker platform provides this stability by collateralization of Dai. The specialized smart contracts called "Collateralized Debt Position" hold the collateral posted by a user, issues the Dai that can be used as a payment method or as a savings mechanism. Upon closing, the CPD user withdraws his collateral and pays the stability fee in a secondary currency - MKR token. MKR's are used as a stability, governance and fee payment token on the Maker platform. The MKR token's price is determined by the free market. The price of the CPD creation and of the Dai issuance rises and falls depending on Dai's market movement i.e. it is more expensive to create Dai when the price is below $1 and vice versa.
|Market Name||Traded On||Average Price||24h Volume|
Fundamental Cryptocurrency Data
|Circulating supply||46,828,920 DAI|
|Trading volume of all markets for this coin||$69,153|
|Dai DAI Prices||
0.00 XAU (= 0.00) grams GOLD
0.07 XAG (= 1.98) grams SILVER
|Marketcap|| 7,211 BTC|
1,130.43 kg gold
90,676.44 kg silver