The market capitalization of the DAI stablecoin has exceeded $1 billion

DAI algorithmic stablecoin market cap has reached $1.01 billion. At the same time, about 994 million tokens, since the current price of DAI is about $1.01.

According to Coingecko, Market capitalization of the DAI of a decentralized autonomous organization MakerDao is $1.01 billion. Founder MakerDao Rune Christensen (Rune Christensen) said:

"Market capitalization of DAI in $1 billion – This is a huge milestone and convincing confirmation of that, that people around the world want free access, transparency and opportunities for maximizing their economic potential ".

MakerDao Foundation confirmed, that the DAI proposal has actually increased by 30 million 11 November, but did not provide additional details.

DAI is created, When the Ethereum users make crypto assets to the MakerDao protocol and take a loan secured by DAI. Smart contracts set the cost $1 For DAI, which helps stablecoin maintain binding to $1, Although it changes from time to time.

All relevant data on the MakerDao system can be tracked on the DAI Stats website. At the moment, the general offer is about 994 Milln DAI. Market capitalization c $1 billion is explained by the one, that now DAI costs a little more $1.

«DAI – Pioneer of financial instruments, created on the basis of protocols, and reaching the line in $1 billion proves, that he works and will stay with us for a long time ", – said the founder of the Compound project Robert Leshner (Robert Leshner).

It is worth noting, that the COMPound protocol is now actually blocked $1.6 billion in DAI. This is possible because, What users make, occupy and again invest money cyclically, as far as the requirements for ensuring.

Although most of the DAI used take the form of the ERC-20 token, This is not done for all tokens. DAI is not included in the ERC-20 smart contract, Until users get him from MakerDao. In the future, users can do this in other tokens standards, If more perfect, The developer of Maker Foundation explained Nick Kunkel (Nik Kunkel).

“In the Maker system, DAI-not token ERC-20. DAI – it's just DAI ", – Kunkel said.

About a third of the general sentence falls on the DAI Savings Rate smart contract (DSR), despite , that he does not bring income. Most DAI, more 620 million, are in the ERC-20 smart contract, which can be viewed on Etherscan. According to
DeFi Pulse, Now the assets are blocked in Maker $2.3 billion, What makes it the second largest Defi protocol on the Ethereum after Uniswap.

“MakerDao was created, To open people access to a more transparent tool for participation in the global financial system ", – Kristensen said.

Recall, that recently project managers Fidelity Labs, Circle and Makerdao claimed, dollar stabilcoins attract new users to the cryptocurrency market and improve the work of organizations.