DAI17
$DAI
MCAP4.38B
-0.10%

what's DAI?

DAI is a decentralized, collateral-backed stablecoin developed by the MakerDAO protocol on the Ethereum blockchain. It maintains a soft peg to the US dollar through a system of over-collateralized vaults, where users deposit cryptocurrencies like ETH as collateral to generate DAI via smart contracts. The protocol employs mechanisms such as stability fees (interest on loans), liquidation auctions for under-collateralized positions, and governance via the MKR token to ensure stability and adjust parameters dynamically. As an ERC-20 token, DAI is integral to DeFi ecosystems, enabling lending, borrowing, yield farming, and payments without centralized intermediaries. Its decentralized nature allows it to be bridged to compatible layer-1 and layer-2 networks, including forks like Pulsechain, where it functions as a stable value transfer medium within those environments. MakerDAO's governance community continuously evolves the protocol through proposals, incorporating features like multi-collateral support and emergency shutdowns to mitigate risks.

Snapshot

DAI received MakerDAO Starknet allocation, Polygon zero-gas transfers, and large EF DAI inflows.

contract

ethereum

20H ago
PARTNERSHIP

Received millions of USD in allocation from MakerDAO to build DAI on Starknet.

1D ago
MARKET ACTIVITY

Zero-gas transfers extended to DAI on Polygon by TokenPocket.

2D ago
WHALE ACTIVITY

Received $2.80M in DAI from Ethereum Foundation sale of 1,250 ETH on 2026-04-11.

3D ago
WHALE ACTIVITY

Received 1,250 ETH ($2.80M worth) from the Ethereum Foundation in a sale transaction.

MARKET ACTIVITY

Received 11.11M DAI from Ethereum Foundation's conversion of 5,000 ETH at an average price of $2,221 per ETH.

5D ago
MARKET ACTIVITY

Ethereum Foundation's DeFi multisig wallet sold 416.6 ETH for 933,000 DAI at a price of $2,240 per ETH on CoW Swap on April 8th, 2026.

6D ago
MARKET ACTIVITY

Repaid 4.14 million DAI in debt on Spark Protocol to withdraw 264.4 WBTC collateral on April 7, 2026.

1W ago
WHALE ACTIVITY

Experienced increased whale transaction activity with transactions over $100,000, ranking among top large-cap assets by weekly growth according to Santiment data.

ONCHAIN METRICS

Reached $5.4 million in DAI auctioned for $0 during Black Thursday on March 12, 2020, when ETH dropped 43% in hours and auction bots could not bid profitably due to high gas costs.

ONCHAIN METRICS

Generates approximately 2% APY on Aave for USDC and USDT lending as of 2025.

2W ago
ONCHAIN METRICS

Recorded $40.2B in 30-day mint volume, ranking first among stablecoins tracked in the period ending March 24, 2026.

3W ago
WHALE ACTIVITY

Ethereum whale thomasg.eth held $538 million in crypto assets at the 2021 market top, including holdings in DAI alongside ETH and WBTC.

WHALE ACTIVITY

Received approximately 11 million DAI from the UXLINK exploiter who swapped 5,496 ETH for DAI.

WHALE ACTIVITY

Increased 340% week-over-week in whale transactions ($100K or more) on BNB Chain.

1M ago
WHALE ACTIVITY

Used as part of a 9.92 million USD borrowing position (alongside USDT and USDC) from Aave by an address that received 7,400 ETH from Tornado Cash.

VISIBILITY EVENT

Is one of four stablecoins (along with USDC, USDT, USDA) supported in Gauntlet Vaults on Morpho, which are natively integrated with Trust Wallet for stablecoin yield access.

ONCHAIN METRICS

Achieved a 465% increase in network growth (new wallets created) on Polygon over the past month compared to the prior month.

ONCHAIN METRICS

Achieved a 103% increase in network growth (new wallets created) on Optimism over the past month compared to the prior month.

WHALE ACTIVITY

Converted to USDT from DAI in the amount of $900K as part of stolen funds laundering by Sillytuna attackers.

PARTNERSHIP

Integrated into Stone Vault, an immutable stablecoin vault audited by Nethermind that routes DAI across Aave, Spark, and Curve protocols.

WHALE ACTIVITY

Holds $20M DAI in two attacker-controlled wallets (0xdCA9...c9C4 and 0xd0c2...dd3e) from an address poisoning attack that drained $24M aEthUSDC, with bridging to Arbitrum. Received 20.34M DAI from a 23.6M aEthUSDC conversion in an extortion incident involving user Sillytuna, and an attacker swapped $2M DAI for 6,174.4 XMR.

WHALE ACTIVITY

Experienced the 10th highest percentage increase in $100K+ whale transactions on Arbitrum network.

VISIBILITY EVENT

Received a B+ rating from Bluechip organization, ranking below BOLD's A- rating in decentralization, management, and governance metrics.

2M ago
ONCHAIN METRICS

Holds approximately $10.3 billion in debt plus equity backing a $9.55 billion supply, resulting in approximately 108% collateralization ratio as of February 9, 2026.

WHALE ACTIVITY

Spent 13.32M DAI to purchase 6,316 ETH at $2,109 per ETH on 2026-02-08.

ONCHAIN METRICS

Achieved $145.3B in onchain volume over the past 30 days, leading alternative stablecoin volume behind USDT and USDC.

TOKEN ECONOMICS

Holders depositing DAI into Pot earn 1% per year, while 248 million DAI is currently locked in Pot.

ONCHAIN METRICS

A single account holds 3.5 billion USDC that flows in and out through LitePSM (DAI USDC).

ONCHAIN METRICS

87% of DAI volume concentrates on Ethereum.

MARKET ACTIVITY

Accepted as a bidding currency in the ZAMA token public auction alongside USDC and USDT, with bidding running until January 24, 2026 at 8:00 PM UTC.

MARKET ACTIVITY

Borrowed as part of $193 million in stablecoins (including DAI, USDT, and USDS) through Spark protocol by the "7 Siblings" whale group across 8 addresses.

ONCHAIN METRICS

Reached a market cap of $4.69 billion and a circulating supply of 4,350,000,000 DAI.

RISK ALERT

A user accidentally burned $10 million worth of DAI tokens on Optimism by using the burn function.

3M ago
WHALE ACTIVITY

Experienced a 275% increase in $100K+ whale transactions on BNB Chain during the week ending January 8, 2026.

MARKET ACTIVITY

Coinbase removes the ETH-DAI order book, eliminating this trading pair from the exchange.

WHALE ACTIVITY

The UXLink exploiter swapped 248 WBTC for 23M DAI.

PARTNERSHIP

Integrated as a payment option alongside USDC, USDT, and EURC for stablecoin settlement on Polygon through Shift4's merchant payment system.

MARKET ACTIVITY

Was used as an intermediate asset in a swap of stolen funds (50M USDT → DAI → ETH) following a poisoning attack on December 20, 2025.

4M ago

gTrade announces the sunset of its gDAI vault, encouraging users to withdraw and migrate to gUSDC vaults as part of an initiative to consolidate liquidity toward more performant collaterals.

DAI and USDS contracts deployed on AO platform following stETH integration, expanding the technical infrastructure for Sky Ecosystem tokens.

Traders recommend moving from DAI/USDS to competitor Liquity, citing better safety guarantees.

Sky team posts official response to Aave's collateral removal decision, claiming misunderstandings about how Stars borrow from Sky and acknowledging that transparency and scalability improvements are needed for potential future re-enablement as collateral.

DAI is being removed as collateral from Aave alongside USDS, while competitor stablecoin LUSD remains eligible as collateral.

Aave votes with 99.6% approval to no longer accept USDS as collateral and increase Reserve Factor to 25%, marking a reputational setback for Maker/Sky with concerns about DAI given the shared backing structure between DAI and USDS.

Upgraded from DAI to USDS on Binance, Bitget, HTX Global, Gate, MEXC, and KuCoin, with USDS hitting all-time high. Upgrades to USDS April 9, 2026, with Coinbase supporting migration May 4-6, 2026, Crypto.com suspending DAI trading after April 10, 2026, and DeFiSaver converting sDAI to sUSDS.

Sky announces an update to its capital structure where DAI/USDS holders are positioned as the most senior creditors in the loss waterfall hierarchy, taking losses only after Star tokens are fully liquidated, SKY tokens are diluted to zero, and solvent Stars are clawed back. The announcement references S&P Global's existing B- credit rating for the protocol, which may require review based on this new capital structure ordering.

DAI/USD price feed goes live on Monad blockchain as part of a real-time oracle data service, listed among 9 stablecoin feeds including USDT, USDC, USDS, and others.

gTrade began migration from DAI to USDC, discontinuing DAI as trading collateral and sunsetting its gDAI vault.

5M ago

A whale experiences a $6.67M liquidation on Compound when BTC falls below $100K, with the position having borrowed DAI and USDT against WBTC collateral.

4,978 ETH converted to 16.294 million DAI at $3,273 after withdrawal from Tornado Cash on 11/8. The transaction shows potential connection to a larger 154,000 ETH deposit into Tornado Cash on 11/5.

The sDAI-DAI trading pair on Gnosis chain reports strong performance as the best performing stable pair.

Binance continues to be the main destination for stablecoin inflows including DAI, alongside USDT and USDC.

SparkLend no longer accepts sUSDS/sDAI as collateral, removing these lesser-used collateral features from the platform.

Supply reaches multi-year highs while new sub-DAOs enter testing phase as part of the Endgame roadmap.

Unknown entity converts 7,066 ETH to 23.945 million DAI at $3,389 per ETH after withdrawing funds from Bitget and HTX exchanges using multiple wallets to obscure the transaction.

gTrade disables new DAI trades on November 12 (00:00 UTC) and sunsets the gDAI vault, reallocating its OC layer to more performant vaults.

Richard Heart completes transfer of entire 154,000 ETH position ($611 million) to Tornado Cash, including 113,671 ETH ($379 million) moved in the last 7 hours. The ETH was originally purchased with 621 million DAI in March 2024 at $3,779 average price and is currently at a loss.

Radiant Capital exploiter uses 5.836 million DAI to purchase 1,482 ETH at $3,938 per ETH.

Richard Heart transfers 10,900 ETH ($42 million) to Tornado Cash, part of 154,000 ETH originally purchased with 621 million DAI in March 2024 at $3,779 average price.

AO protocol distributes rewards to bridged assets including DAI, with the system reaching over $213M in deposits across stETH, DAI, and USDS.

Radiant Capital exploiter swaps 16 million DAI for 4,345.6 ETH and deposits 2,834.6 ETH into Tornado Cash.

Combined USDS and DAI supply reaches $9.08 billion, marking a new cycle high for Sky Ecosystem issuance.

Extreme price deviation occurs on BingX where DAI sells at $50 per token, allowing one trader to profit +5,000% in minutes by turning $1,000 into $50,000.

Addresses suspected to belong to Richard Heart (Hex, PulseChain, PulseX founder) transferred 81,000 ETH ($323 million) in the past 5 hours, having previously purchased 132,000 ETH with 499 million DAI in March 2023 at $3,770 average price.

DAI grows by $761.82M from July 1 to October 16, 2025, ranking 6th among top 10 stablecoins by growth during this period.

A whale loses $8.979 million through ETH trading over half a month, starting with 38.017 million DAI and ending with 29.038 million DAI after two unsuccessful trading waves, with the most recent loss of $3.473 million occurring on October 17.

Trader publicly declares the project dead after claiming to have issued warnings at multiple conferences.

New promotional activity emerges with trader claiming 6,000x historical gains on the token in public post.

11M ago

Severe liquidity constraints causing high slippage and trading difficulties, with recent 75% price decline.

Token confirms rebrand from Teddy with new contract address, gaining market attention through controversy.

Critical infinite minting vulnerability has been patched and protocol has been decoupled from MakerDAO fork.

1Y ago

Previous promoter publicly denounces token and blocks future shilling attempts.

Active coordinated selling pressure and community conflict signals elevated risk levels.

Project leader plans chain departure while community leaders actively oppose current implementation, indicating severe protocol instability and increased rug pull risk.

Active community warnings about potential scam activity and association with controversial developer Maria 414 present significant security risks.

Active security exploit exists in protocol, causing notable holders to exit positions.

Token on Pulsechain facing narrative issues, with reports of Sommi placing sell walls.

Launch on PulseChain announced.