24h Change-0.031%
All Time HighMar 13, 2020$1.22
All Time LowMar 11, 2023$0.88
Market Cap$4.368b
Fully Diluted Valuation$4.356b
Circ. Supply4.37b DAI
CEX Volume$1.18m
DEX Volume$252.24m
How much debt can be issued against DAI as collateral across lending protocols.
Maximum possible exposure to DAI
$737,201
$102.31 (max additional borrows against DAI) + $737,099 (bad debt if DAI was hacked now)
Morpho V1
$102.41 at-risk exposure = $0.1 bad debt if hacked + $102.31 additional borrowable against DAI
Aave V3
$666,397 at-risk exposure = $666,397 bad debt if hacked + $0 additional borrowable against DAI
Venus Core Pool
$70,702 at-risk exposure = $70,702 bad debt if hacked + $0 additional borrowable against DAI
Showing collateral exposure for DAI on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for DAI as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
DAI0x6b175474e89094c44da98b954eedeac495271d0f | $102.31 | $0.1 | ||
DAI0x6b175474e89094c44da98b954eedeac495271d0f | $0 | $409,943 | ||
DAI0xda10009cbd5d07dd0cecc66161fc93d7c9000da1 | $0 | $53,797 | ||
DAI0x8f3cf7ad23cd3cadbd9735aff958023239c6a063 | $0 | $202,657 | ||
DAI0x1af3f329e8be154074d8769d1ffa4ee058b1dbc3 | $0 | $70,702 |
Risk-management actions published about DAI by tracked risk managers and governance contributors, newest first.
Existing DAI reserves from previously authorized v2 pull-back are being migrated to treasury escrow as the most liquid component to immediately support V4 execution and treasury envelope.
SparkLend DAI reserves held in the SubDAO Proxy do not count toward risk capital requirements because they are not in native USDS form. Transferring to the ALM Proxy will book the value as profit in the next settlement cycle, consolidating it into the SubDAO Proxy USDS balance to meet risk capital needs.
DAI's historical role as DeFi collateral is acknowledged, but its evolution into a diversified credit basket via USDS shifts it away from a narrow, low-risk base asset suitable for the permissionless risk-free lane.
DAI reserves accumulated in SparkLend are proposed for claiming to the ALM Proxy as SLL-supported assets, enhancing risk capital to avoid forced reductions in asset allocations and yielding high RoE through USDS consolidation.
DAI is included in the USDS demand analysis for comparative purposes, tracking its interactions and competitive positioning in the Sky Ecosystem's stablecoin landscape.
DAI is the original single-collateral stablecoin backed by ETH loans, still supported but without upgradeability or recovery features if stolen. It remains simple and non-depreciating within the Sky ecosystem.
The DAI vault generated over $5M in Q3 yield, supporting Spark's high margins and operational efficiency as a key component of its stablecoin-focused yield aggregation.
Dai Savings Rate (DSR) decreased by 0.25 percentage points to align with Atlas modification rules. Stability parameters for Spark-related DAI markets were adjusted to reflect revenue accumulation and offset idle liquidity effects from sUSDS and sDAI on the Surplus Buffer.
The USDC/DAI liquidity pools on Uniswap generate only 0.06% and 0.02% annual yields, which is suboptimal compared to 4.1%+ returns available for USDC deposits in other investments, and the new stablecoin module allows 1:1 swaps without requiring LP positions.
DAI is part of the benchmark for its established supply and role in Maker's Savings Rate (sDAI) and Morpho's Spark vault, capturing passive yields from fixed-rate products in a risk-adjusted manner.
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Showing 10 of 166 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabDAI-WETH0.3% | $7.89m | 33.14% | 33.14% | 8.45% | |||||
| open in new tabDAI-WETH0.3% | $3.04m | 25.11% | 25.11% | 6.80% | |||||
| open in new tabDAI-SLGNS0.19% | $650,583 | 109% | 109% | 262% | |||||
| open in new tabDAI-USDC0.05% | $520,762 | 30.19% | 30.19% | 1.23% | |||||
| open in new tabDAI-USDS0.3% | $212,923 | 47.43% | 47.43% | 2.58% | |||||
| open in new tabDAI-RAIL | $211,346 | 39.79% | 39.79% | 18.15% | |||||
| open in new tabCHI-DAIstable - 0.3% | $172,797 | 244% | 244% | 272% | |||||
| open in new tabDAI-JPYC0.20% | $164,737 | 26.07% | 26.07% | 24.46% | |||||
| open in new tabWETH-DAI0.3% | $108,041 | 66.60% | 66.60% | 12.37% | |||||
| open in new tabARB-DAI1% | $11,035 | 44.01% | 44.01% | 34.77% |
Showing 10 of 1330 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabDAI âžž MORPHO | $10.34m | 9.40% | 6.66% | 3.15% | 86.96% | $32,870 | $24,577 | ||
| open in new tabDAI âžž MORPHO | $10.34m | 7.00% | 4.39% | 3.15% | 83% | $36,657 | $29,035 | ||
| open in new tabDAI âžž WBTC | $6.61m | 6.77% | 6.66% | 0.12% | 86.96% | $32,870 | $24,577 | ||
| open in new tabDAI âžž LBTC | $3.34m | 7.45% | 6.66% | 0.91% | 86.96% | $32,870 | $24,577 | ||
| open in new tabDAI âžž WETH | $3.21m | 6.73% | 6.66% | 0.07% | 86.96% | $32,870 | $24,577 | ||
| open in new tabDAI âžž CDCBTC | $2.19m | 6.73% | 6.66% | 0.08% | 86.96% | $32,870 | $24,577 | ||
| open in new tabDAI âžž CDCETH | $752,540 | 6.92% | 6.66% | 0.29% | 86.96% | $32,870 | $24,577 | ||
| open in new tabDAI âžž WELL | $545,831 | 7.36% | 6.66% | 0.80% | 86.96% | $32,870 | $24,577 | ||
| open in new tabDAI âžž TBTC | $47,508 | 7.04% | 6.66% | 0.44% | 86.96% | $32,870 | $24,577 | ||
| open in new tabDAI âžž USDC | $0 | 6.66% | 6.66% | 0% | 86.96% | $32,870 | $24,577 |
