Dai (DAI) is a collateral-backed stablecoin targeting one US dollar, originally developed within MakerDAO, now Sky. DAI remains a distinct token from USDS, although the protocol offers a conversion route between them. Neither the dollar target nor conversion design guarantees market-price stability.
stablecoins Dai
Dai
(DAI)
Dai (DAI) is a collateral-backed stablecoin targeting one US dollar, originally developed within MakerDAO, now Sky. DAI remains a distinct token from USDS, although the protocol offers a conversion route between them. Neither the dollar target nor conversion design guarantees market-price stability.
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What is Dai?
Answer sources checked
20 answers source-reviewed with Codex assistance. Reviewed . This review covers the answers, not exchange listings or the rest of the page.
How does Dai work?
DAI balances are tracked by an Ethereum ERC-20 contract, while Sky's accounting system manages issuance against approved collateral and other protocol routes. Transfers move tokens, not dollars in a personal bank account. Collateral quality, risk parameters and market liquidity affect the system's ability to maintain its target.
Who created Dai?
DAI was created through the Maker project: its whitepaper credits the Maker Foundation, community and outside partners with building and launching the protocol. The ecosystem now operates under Sky branding. DAI is not a currency issued by the Ethereum Foundation or a government.
What is Dai used for?
DAI can be used for onchain payments, trading pairs and compatible lending or savings applications. Its dollar target makes it different from a governance token such as SKY. Converting DAI to USDS changes the token held and the contracts involved, so applications should support the exact asset.
Where can you buy Dai?
DAI may be acquired through a platform or liquidity pool that currently supports the exact DAI deployment you need. Check the platform's official asset and network pages for your account and location. Sky's documented DAI/USDS and peg-stability routes are protocol conversions, not universal bank purchase services.
Dai exchange reference guides
Before you buy| Exchange | Observed pairs | Catalogue status | Checked (UTC) | Checklist |
|---|---|---|---|---|
| Kraken | DAIEUR, DAIUSD, DAIUSDTKraken international public currency spot pairs plus Support full names and public canonical-to-altname metadata; not regional, retail, funding or account eligibility. | Reported open | Check route | |
| Gemini | DAIUSDGemini public details for 47 explicitly spot/vanilla USD instruments only, plus the published en-us Support article's exact asset names and codes. Bounded subset, NOT a complete spot catalogue. Article regional/entity restrictions remain applicable; retail, account, funding, withdrawals and token contracts are not verified. No aliases or derivative inference. | Reported open | Check route | |
| Coincheck | dai_jpyCoincheck Japan public JPY exchange spot status plus official website full-name metadata; retail, leverage, account and regional eligibility not checked | Reported open | Check route |
How to buy Dai
Plan your purchaseHow much Dai?
How can you buy Dai safely?
Before buying DAI, match the official token contract and selected network, then inspect the full order or swap preview. Do not confuse DAI with USDS, savings receipt tokens or similarly named assets. Review approval permissions: DAI supports signatures and unlimited allowances that malicious applications can misuse.
Can you buy a fraction of Dai?
Yes, DAI supports fractional balances; its Ethereum token uses 18 decimal places. A platform can impose its own minimum order, withdrawal size or display precision. Those limits do not change token divisibility, and gas can make a very small purchase or transfer uneconomic.
How much does it cost to buy Dai?
Buying DAI can involve a spread, platform fee, payment charge and withdrawal fee; an onchain swap also uses the host network's gas. An Ethereum approval and swap may be separate transactions. The dollar target does not eliminate these costs, and no purchase size is automatically safe.
How much is one Dai worth?
DAI targets one US dollar through a collateral-backed protocol, not a bank deposit with a fixed resale price. Its documented 1:1 conversion route to USDS exchanges token units; it does not guarantee that either token trades at one dollar.
Use this page's timestamped reference for DAI, not SKY or a savings receipt. Compare the exact asset and executable net amount.
Is Dai a good investment?
DAI can lose its dollar peg or value because of collateral losses, oracle failures, governance decisions, contract defects or insufficient liquidity. Exposure to other stablecoins can introduce issuer and redemption risks into the backing system. Holding DAI is not the same as holding insured cash. This is not financial advice.
Compare two order previews
Use DAI credited after buying fees and spread. Extra USD charges must exclude fees already included in the total. Enter 0 only when confirmed.
Which quote delivers more DAI?
Enter your order-preview numbers or use the labeled example. Unknown charges are never treated as zero.
Dai wallets & storage
How do you get a Dai wallet?
Set up a wallet supporting DAI on the network you intend to use, and obtain its software from the wallet's official source. Verify the DAI contract against Sky documentation before importing it. For an ordinary Ethereum transaction, keep ETH available for gas rather than assuming DAI pays the fee.
How can you store Dai securely?
Protect the keys controlling your DAI, and keep recovery material offline and private. Review existing contract allowances as well as wallet access: an unlimited DAI approval can expose the balance without revealing your seed phrase. A hardware wallet does not make a malicious approval safe.
Sending & cashing out Dai
Match your networks
For DAI, copy the exact network names shown in your apps. This compares your entries, not a verified list of supported networks.
Enter both network names
Copy the exact network name shown for this asset in each app. No supported-network catalogue is assumed here.
How do you send Dai to another wallet?
Send DAI only to a recipient that supports DAI on the same network, after checking the address and token identity. A token transfer differs from depositing into Sky's internal accounting or converting to USDS. Confirm the wallet preview and gas, and consider a small test before a larger transfer.
How long does a Dai transfer take?
DAI transfer timing depends on the host chain's inclusion and confirmation process, not a separate DAI blockchain. An Ethereum transaction can remain pending when its fee is insufficient. A receiving platform may require additional confirmations or account checks after the onchain transaction succeeds.
How much does it cost to send Dai?
Ordinary Ethereum DAI transfers consume gas paid in ETH, with the amount depending on network conditions and transaction complexity. DAI's permit feature can let a relayer submit an approval, but it does not remove the underlying execution cost. Other networks or sponsored applications have different arrangements.
Can you cash out Dai for real money?
To cash out DAI, use an eligible service that currently supports selling it and withdrawing your local currency. Confirm deposit network, conversion costs and withdrawal conditions first. A DAI-to-USDS or DAI-to-USDC protocol conversion changes the onchain asset; it is not itself a bank payout.
Is Dai traceable?
Ethereum DAI transfers and balances are publicly observable at addresses, including contract interactions. Addresses are pseudonymous rather than inherently anonymous, and platform records or transaction patterns can link them to people. DAI's stablecoin design does not provide a private payment network.
Supply, mining & staking
What is the maximum supply of Dai?
DAI does not have a Bitcoin-style fixed maximum supply. Its contract supports changing supply, while protocol issuance and repayment or redemption routes affect outstanding balances. Governance debt limits and combined DAI/USDS reporting should not be mistaken for a permanent cap on circulating DAI.
Can you mine Dai?
DAI cannot be mined through proof-of-work. It is an issued ERC-20 token within Sky's collateral and accounting system, not the reward coin of an independent mining network. Software promising DAI mining may instead describe unrelated lending, liquidity incentives or a fraudulent service.
Can you stake Dai?
DAI has a documented savings mechanism through the Pot contract, but depositing there is not native proof-of-stake validation. The rate is governance-controlled and should be checked live; access and alternatives can change as Sky develops USDS products. Contract and stablecoin risks remain even when yield is offered.