Maker Dai price chart
What is Maker Dai
Dai is collateral-backed money whose value is entirely stored on the Ethereum blockchain. Dai keeps its value stable through a framework of aligned financial incentives, a basket of ERC-20 tokens, that have been staked by their owners.
The Dai is governed by MakerDAO (a decentralised autonomous organisation) and uses the The Maker Protocol (Multi-Collateral Dai (MCD) system), that through Ethereum smart contracts is able to lock away ERC-20 tokens and replace them with an equivalent amount of Dai, thus providing the collateral debt position (CDP). Dai functions in a similar way to other cryptocurrencies, meaning it can be sent to others, used as payments for goods and services, be held as a hedge against market volatility, and much more.
Maker Dai price calculator
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