Dai: The project describes Dai as a currency that keeps a steady value, is not run by one central company, and can be used by anyone. Its pages make no dated promises we could check. It trades at $1.00, #22 of all coins by size, 18% below its highest ever price.
This week Nothing changed on its record.
No stated job or named backing. No dated promises on its pages. Nothing dated ahead. Biggest of 9 crypto-backed stablecoins. Nothing to be careful of on the record.
Is it real?
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0 of 4
- –A real-world jobDoes it say what problem it solves, in a category that is not a joke?
- –Real backingA named investor, an index, a major exchange, or a billion-dollar size.
- –Something aheadA dated step, deliveries on record, or demand showing up in the news.
- –Room to growWorth at least four times less than the biggest coin doing the same job, so the gap is real, not a guess.
Listed on 2 big exchanges
- Origin12 March 2020about about 6 yearsmakerdao.com, Whitepaper
- DevelopersNot namedNeither Wikidata nor its listing names the foundersNo public code repository listed
- BackingNo named investorListed on Kraken, Gemini
- Standing on the recordNo recordNo dated promise to judge yet2 headlines last month66,899 people keep it on a CoinGecko watchlistNo corrections needed so far
Four tests, printed. Passing all four means a real job, real backing, something ahead, and a price far below the leader of its group. A filter on facts, never a verdict.
Every line has a source: the coin's own listing, CoinGecko's tags, the record, or the news feed. Reputation here is a count, never an opinion.
Does it deliver?
No dated promise has been found on the pages this project publishes. Its pages are saved every night, so anything it commits to from now on appears here.
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Every line is quoted from the project's own pages, with the copy we stored and, where one exists, the article that reported it
What is next, and when?
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Nothing dated
The project has not put a date on anything still open. That is a fact worth knowing.
How big is it next to its rivals?
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Only coins within a hundred times its worth; a coin a thousand times bigger is another world
A stable digital dollar
18 coins we checked say they are for a stable digital dollar, worth $272.87B together. #3 of 18 by worth.
Crypto-backed Stablecoin: this coin against its direct competitors
- CoinWorth, as a barWorthAgainst this coinToday, and the gapSupplyPromises
Dai$4.59Bthis coin−0.0%no maxnone dated
USDD$1.51B3.0× smaller, −$3.08B−0.0%, gap −0.0no maxnone dated
Falcon USD$1.34B3.4× smaller, −$3.25B−0.0%, gap −0.0no maxno record
GHO$698.14M6.6× smaller, −$3.89B+0.0%, gap +0.0no maxnone dated
crvUSD$203.52M22.5× smaller, −$4.38B+0.0%, gap +0.0no maxnone dated
f(x) Protocol fxUSD$83.46M55.0× smaller, −$4.5B+0.0%, gap +0.0no maxnone dated
Lista USD$75.1M61.1× smaller, −$4.51B+0.0%, gap +0.0no maxno record
Felix feUSD$74.87M61.3× smaller, −$4.51B+0.0%, gap +0.0no maxno record
Crypto-backed Stablecoin: this coin next to USDD, the biggest rival within reach. People go to the bigger coin unless the smaller one does something it does not.
- Dai says
- The project describes Dai as a currency that keeps a steady value, is not run by one central company, and can be used by anyone.
- USDD says
- USDD is a cryptocurrency meant to hold the same value as one US dollar, backed by other crypto assets held in reserve rather than by a bank.
Two claims, side by side, in their own words. Whether the difference is real is for the record to show over time, and for you to judge.
The project describes Dai as a currency that keeps a steady value, is not run by one central company, and can be used by anyone.
Its listing puts it this way: MakerDAO has launched Multi-collateral DAI (MCD). This token refers to the new DAI that is collaterized by multiple assets.
Problem it says it solves: a stable digital dollar. 27 coins we have checked say the same; together they are worth $275,379,450,817.
Where it trades: Kraken, Gemini, Aivora Exchange, De¹, Sushiswap V3
Each bar is a coin's worth today (price × coins out), longest first. The lit bar is this coin; grey bars are the others doing the same job.
Bars are market cap. Order is size, nothing else. Differences are measured from the coin you are looking at.
What should make me careful?
Nothing printed today
None of the six tests fails. A missed promise counts only on a record a person has checked.
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The tests: nothing to hold it for, more missed than delivered, priced ahead of its record, half the supply still to come, rivals ship while it does not, a big release of coins soon.
The homework: the coin itself, the news, the record
The coin itself
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The last 7 days
Where today sits against its highest ever price
Highest ever: $1.22 on 12 March 2020. Today is 82% of that.
100%
of all DAI that will ever exist is already out in public hands: 4.59B coins.
0% (6.82M coins) is not yet created or held by the project. That is a small share. Those coins can be sold later, which can push the price down.
out held back. Each dot is 1%.
Meant to stay at one dollar
Holding it is holding a copy of a dollar. It is not built to rise.
- Nothing the project's own pages spell out.
That is all a market cap is: today's price times the coins in public hands. It moves every time the price does. It says what buyers are paying, not what the coin is worth.
- 4.59Bin circulation of 4.59B total. No hard maximum is set, so more can be created.
- of its all-time high of $1.22 on 12 March 2020. That is −18.0% from the top.
- #22by market cap, $4,586,921,863.
- Not checkedwho holds the most coins, and how much has been burned. Those need on-chain data this site does not read yet.
Supply and value figures from CoinGecko, refreshed hourly. Not part of the record.
What the news says
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Headlines per day, last 30 days
2 headlines named this coin in the last month.
What they were about
- Stablecoin1
- Which Stablecoins Are the Largest and Most Popular in 2026?
- Dai to Participate in Stablecon in Washington, D.C. on September 9th
Headlines are the publishers' own. News is never placed next to price.
The record itself
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Six facts, the project's own replies, its peers, contract facts, references and every stored copy
The project describes Dai as a currency that keeps a steady value, is not run by one central company, and can be used by anyone.
“Dai is a stable, decentralized currency that does not discriminate.”source · snapshot · captured 2026-09-13
Live. The record does not yet cite when this stage began.
No dated or committed promises have been recorded yet.
Others in stablecoins: Synthetix 6 of 11, Cap 3 of 10, A7A5 0 of 3, Frax USD 0 of 1, and 4 more.No public code repository is listed in this record.
None of the project's captured pages has changed since capture began on 13 September 2026.
Nothing further to flag from the record as it stands.
This record was drafted by a machine from captured pages and has not yet been checked by a person. Treat every line as unverified until that note changes.