The listings come amid decentralized finance DeFi boom. We received a lot of requests from our users [for the listings]," a Binance spokesperson told The Block. The " yield farming " craze is one of the main reasons behind the rising interest, i. Binance's listings come soon after similar action by Coinbase. All Rights Reserved. This article is provided for informational purposes only.
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Please change the wallet network. Change the wallet network in the MetaMask Application to add this contract. United States Dollar. Dai is up 0. It has a circulating supply of 9,,, DAI coins and the max. You can find others listed on our crypto exchanges page.
DAI is an Ethereum-based stablecoin stable-price cryptocurrency whose issuance and development is managed by the Maker Protocol and the MakerDAO decentralized autonomous organization. The price of DAI is soft-pegged to the U. Instead, the development of the software that powers it and the issuance of new tokens is governed by the MakerDAO and Maker Protocol. MakerDAO is a decentralized autonomous organization — a kind of company that runs itself in a decentralized manner via the use of smart contracts — self-enforcing agreements expressed in software code and executed on the Ethereum blockchain.
Before starting work on the Maker ecosystem, Christensen studied biochemistry and international business in Copenhagen and founded the Try China international recruiting firm.
Under these circumstances, traders and investors are naturally predisposed to add safe-haven assets to their portfolios, whose stable price might help offset significant market fluctuations. One such kind of asset are stablecoins, of which DAI is one example. These are cryptocurrencies whose price is pegged to assets with a relatively stable value — most commonly traditional fiat currencies, such as USD or EUR.
Another key advantage of DAI is the fact that it is managed not by a private company, but rather by a decentralized autonomous organization via a software protocol. As a result, all instances of issuance and burning of tokens are managed and publicly recorded by Ethereum-powered self-enforcing smart-contracts, making the entire system more transparent and less prone to corruption. Read more about the crypto space on CMC Alexandria. In order to maintain the soft price peg to the U. As part of this process, the Protocol allows any user to deposit their crypto into a so-called vault — a smart contract on the Ethereum blockchain — as collateral and mint a corresponding amount of new DAI tokens.
There is no upper limit on the total supply of DAI — the supply is dynamic and depends on how much collateral is stored in the vaults at any given moment. As of November , there are around million DAI in circulation. The purchase of DAI tokens is available on numerous online platforms. These include Decentralized Finance DeFi token swap protocols:.
Cryptocurrencies Tokens Dai. Dai DAI. Rank Market Cap. Fully Diluted Market Cap. Volume 24h. Circulating Supply. Max Supply. Total Supply. Buy Exchange Gaming Earn Crypto. Dai Links. Ethereum 0x6b Dai Contracts. Fantom 0x8D Polygon 0x8f3C Avalanche C-Chain 0xd Sora 0x Arbitrum 0xDA Harmony 0xef Moonriver 0x80a Boba Network 0xf Solana EjmyN Terra terra Please change the wallet network Change the wallet network in the MetaMask Application to add this contract.
I understand. Dai Tags. Category DeFi. Platform Ethereum Ecosystem. Dai to USD Chart. Trade Now Sponsored. Check out the CoinMarketCap blog. How Does Aave Work? What Is Smart Contract Risk? People Also Watch.
Binance P2P Will Delist 14 DAI Trading Pairs
Kraken and Binance are cryptocurrency trading exchange platforms with millions of users. Both are on the top 10 list of largest exchanges by trading volume, with Kraken reaching fourth place and Binance in first. However, U. The crypto exchange platforms offer advanced trading options, low fees, and mobile apps. Plus, both are geared towards intermediate or advanced users. However, Binance offers slightly lower fees, more variety in coins, and additional ways to add or withdraw funds. On the other hand, Kraken is known for its high security standards, recently won bank charter approval in Wyoming, and aims to go public in
How to Buy Dai (DAI) [For Beginners]
New trading support for DeFi tokens. Trade now. Learn more. Presenting Cryptopedia, your trusted source of crypto education. Earn up to 8. Introducing the Gemini Credit Card. Gemini is a simple, elegant, and secure platform to build your crypto portfolio. Earn rewards in bitcoin or any crypto on Gemini. No annual fee 1. No purchase necessary.
Sign Up. The highest and lowest price paid for this asset in 24 hours. All Time High. The highest price paid for this asset since it was launched or listed. Price Change 1h.
Binance Launches DeFi Staking With Cryptos Kava and Dai
Normally, you can do that because an entity promises to redeem each token you have for a fixed dollar amount. For example, you give them ten dollars and they give you ten tokens. In this way, the collateral gives them a safety net. You can see the same principle applied by banks — you might choose to collateralize a car or house in exchange for a loan, for example. Similarly, a fiat-backed stablecoin is collateralized by fiat money.
Binance Coin (BNB) vs Dai (DAI)
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ETH to DAI market on Binance
We now see more DeFi tokens enter CeFi platforms. There should be no doubts, that Binance has kept its eyes on the ever-growing appetite for DeFi tokens by traders. Binance will start by offering limited trading pairs.
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