What is the current price of Dai?
The current price of Dai is $1.0000 with a 0.00% change in the last 24 hours.
Hyperliquid perpetuals only. One snapshot every 5 minutes, up to 20 returned price levels per side. Liquidity beyond those levels is unknown. This is not a liquidation heatmap or a fill estimate.
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Dai (DAI) is a decentralized, crypto-collateralized stablecoin on Ethereum that aims to stay as close to 1 US dollar as possible. Anyone can create DAI by locking approved collateral in a smart-contract Vault and borrowing against it; the loan must stay overcollateralized, and undercollateralized Vaults are liquidated automatically. DAI was issued by the Maker Protocol, run by MakerDAO, which rebranded as Sky in August 2024. DAI still exists and circulates, but the protocol's flagship dollar is now USDS, and the two convert 1:1 at any time.
Official resources:
MakerDAO is generally credited to Danish entrepreneur Rune Christensen and was formed in 2014, with developers around the world working on the first versions of the code from 2015. Key milestones:
18 December 2017: Single-Collateral Dai The first white paper and system launched on Ethereum mainnet. ETH was the only accepted collateral, and that version is now called Sai. DAI held close to its peg through its first year even as ETH fell by more than 80%.
2018: funding and foundation Andreessen Horowitz bought 6% of all MKR for 15 million dollars in September 2018, and the Maker Foundation was set up in Copenhagen.
November 2019: Multi-Collateral Dai (MCD) The upgrade planned in the original white paper went live, allowing several collateral types. This token, sometimes labelled "Multi-Collateral Dai", is the DAI in use today.
March 2020: Black Thursday stress During the market crash at the start of the COVID-19 pandemic, a deleveraging spiral pushed DAI noticeably above 1 dollar before it returned to its target. The protocol later replaced its original English-style liquidation auctions (Liquidation 1.2) with the Dutch-auction Liquidation 2.0 system.
August 2024: rebrand to Sky MakerDAO became Sky, introducing USDS and the SKY token, with converters from DAI and MKR.
May 2025: governance moves to SKY The governance upgrade went live on 19 May 2025, making SKY the voting token. From 18 September 2025 a 1% Delayed Upgrade Penalty applies to MKR converted late, rising by 1% every three months unless governance decides otherwise.
Vaults A user deposits collateral into a Vault and generates DAI as a loan. The ratio of collateral value to debt must stay above a minimum set per collateral type, typically between 110% and 200%.
Stability fees Borrowers pay a stability fee (interest) on outstanding DAI, managed by the Jug contract. When the loan is repaid, the returned DAI is burned and the collateral is released.
Liquidations If a Vault falls below its minimum ratio, the Dog contract seizes the collateral and starts a Dutch auction in which the price declines over time and each sale settles instantly. Because settlement is instant, bidders can use flash liquidity from across DeFi to buy collateral.
Oracles Collateral prices are supplied by oracle feeds and passed through the Oracle Security Module, which delays new prices so governance can react to a compromised feed.
Peg Stability Module The LitePSM lets users swap between DAI and USDC with no slippage using pre-minted pools; fees on this route have not been activated, though governance could change that.
Dai Savings Rate Holders can deposit DAI into the Pot contract to earn the Dai Savings Rate (DSR), set by governance and normally below the base stability fee.
DAI is a dollar-denominated unit of account across DeFi. It is used for lending and borrowing, liquidity pools, payments, treasury management and as collateral in other protocols. Beyond standard ERC-20 transfers, DAI supports permit, which lets a holder approve spending with an off-chain signature so a relayer can pay the gas, and the protocol offers flash minting of DAI.
Security rests on Ethereum's consensus, formally verified and audited core contracts, overcollateralization, auction-based liquidations, delayed oracle prices and a governance process with a timelock (the Pause contract) before executive changes take effect. The protocol also runs a bug bounty program. Emergency Shutdown remains available as a final backstop.
DAI was the first widely adopted decentralized stablecoin and proved that overcollateralized on-chain lending could hold a dollar peg through severe market stress. Its Vault, liquidation and savings-rate designs have influenced many later DeFi protocols, and it remains the base layer beneath Sky's USDS.
DAI trades mainly on decentralized exchanges and inside Ethereum DeFi. Centralized exchange support has narrowed, so check a venue's current markets before depositing.
DAI is an ERC-20 token at 0x6b175474e89094c44da98b954eedeac495271d0f on Ethereum, so any Ethereum wallet such as MetaMask, or a hardware wallet from Ledger or Trezor, can hold it. Holders can also deposit it in the Dai Savings Rate or convert it to USDS. Track transfers on Etherscan.
Track Dai live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Dai on CoinRithm before using real money.
Use a crypto paper trading account to demo trade Dai with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading Dai with real money.
Read the complete paper trading guideThe current price of Dai is $1.0000 with a 0.00% change in the last 24 hours.
The daily trading volume is $171,952 representing a 55.65% change in the past 24 hours.
The market capitalization of Dai is $4,552,539,197, ranking #27 globally.
The fully diluted valuation (FDV) of Dai is $4,552,539,197, calculated using circulating supply because the maximum supply is unlimited.
Circulating: 4,552,766,835. Total: 4,556,048,209. Max: ∞.
In the last 24 hours, Dai traded between a low of $0.9889 and a high of $1.00.
DAI/USDTTether USDT1.0000 USDT
The company traced about 445,000 DAI to one Ethereum wallet after unauthorized transactions affected roughly 4,011 XRPH Wallet users during its probe.
Notional Finance may have suffered a $1.7 million escrow exploit, with researchers tracing 689.2 ETH into Tornado Cash.
Non-stablecoin projects like Humanity Protocol, WBTC on Optimism, and Maker are seeing surges in whale transactions over $100K, signaling potential sharp.
Liquity’s $BOLD stablecoin earns an A- Bluechip rating as surpassing $USDC and $DAI with stronger decentralization, governance, and crypto-native design.
