Question 1

What is Dai (DAI)?

Accepted Answer

Dai (DAI) is a decentralized stablecoin cryptocurrency built on the Ethereum blockchain. It is designed to maintain a stable value relative to the US Dollar and is backed by a reserve of collateral-backed tokens and other assets. Dai is an ERC-20 token, meaning it is fully compatible with other networks and wallets that support Ethereum-based tokens, making it an ideal medium of exchange and store of value.

Dai was initially launched by MakerDAO as a single-collateral stablecoin backed solely by Ether (ETH). In 2019, the project introduced Multi-Collateral Dai (MCD), enabling support for additional collateral types. The original version was renamed Single-Collateral Dai (SAI) before being phased out, with holders encouraged to migrate to the new DAI system. Now, as part of MakerDAO's Endgame plan, the project is transitioning into Sky, introducing Sky Dollar (USDS) and the SKY governance token. Starting September 18, 2024, DAI holders have the option to upgrade their tokens to USDS, while MKR holders can upgrade to SKY. However, both DAI and MKR will continue to function as usual, allowing users to choose between the established tokens or the new versions with enhanced governance and features.

Question 2

For what is Dai used?

Accepted Answer

Dai is designed to be used as a medium of exchange and a store of value, allowing users to send, receive, and store money in a decentralized manner without the need for traditional banking services. It facilitates online payments, money transfers, and other financial services. Dai is widely used in decentralized finance (DeFi) applications, including lending platforms, liquidity pools, and yield farming. It also serves as a reliable stable asset for international transactions, remittances, and hedging against market volatility.

Question 3

Who created Dai?

Accepted Answer

Dai was created by MakerDAO, a decentralized autonomous organization (DAO) founded in 2014 by Danish entrepreneur Rune Christensen. On December 18, 2017, Dai and its associated smart contracts were officially launched on the main Ethereum network.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	DAI-USDT DAIUSDT	kraken	AA	1.00USDT	-0.06%	206,803.27DAI	108	1.00USDT	1.01USDT
2	DAI-USD DAIUSD	kraken	AA	0.9997USD	0.00%	47,685.64DAI	150	0.9997USD	1.00USD
3	DAI-EUR DAIEUR	kraken	AA	0.8697EUR	-0.15%	13,678.05DAI	17	0.8710EUR	0.8728EUR
4	DAI-USD daiusd	gemini	A	1.00USD	-0.01%	11,630.94DAI	5	1.00USD	1.00USD
5	DAI-USD DAI-USD	coinbase	AA	0.9985USD	0.00%	0DAI	0	0.9985USD	0.9985USD
6	DAI-JPY dai_jpy	bitbank	C	157.08JPY	-0.32%	107,126.82DAI	45	157.58JPY	157.58JPY
7	DAI-USDC DAI-USDC	coinjar	B	1.01USDC	0.00%	0DAI	0	1.01USDC	1.01USDC
8	DAI-EUR DAIEUR	bit2me	B	0.8697EUR	-0.15%	13,678.05DAI	17	0.8710EUR	0.8728EUR
9	DAI-AUD DAIAUD	coinjar	B	1.41AUD	1.36%	160.00DAI	4	1.39AUD	1.41AUD
10	DAI-USD DAIUSD	coinjar	B	0.9942USD	0.00%	100.00DAI	2	0.9942USD	0.9942USD
11	DAI-GBP DAIGBP	coinjar	B	0.7240GBP	0.00%	0DAI	0	0.7240GBP	0.7240GBP
12	DAI-AUD DAI_AUD	independentreserve	B	1.27AUD	0.00%	31.53DAI	1	1.27AUD	1.27AUD
13	DAI-JPY dai_jpy	coincheck	D	156.03JPY	0.00%	0DAI	0	156.03JPY	156.03JPY
14	DAI-USD DAI_USD	independentreserve	B	0.9690USD	0.00%	0DAI	0	0.9690USD	0.9690USD
15	DAI-INR DAI_INR	unocoin	-	72.00INR	0.00%	0DAI	0	72.00INR	72.00INR
16	DAI-USDT DAIUSDT	latoken	D	0.9500USDT	0.00%	0DAI	0	0.9500USDT	0.9500USDT
17	DAI-NZD DAI_NZD	independentreserve	B	1.49NZD	0.00%	0DAI	0	1.49NZD	1.49NZD
18	DAI-JPY daijpy	huobijapan	E	158.10JPY	0.00%	0DAI	0	158.10JPY	158.10JPY