Profile
DAI profile facts
Dai (DAI) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
- Collateral
- Shared Sky/Maker balance sheet with USDS: measured canonical USDC in the LitePSM, Spark lending, Grove RWA, Obex and Osero allocator strategies, Core crypto vaults, Staking Engine, and legacy RWA. Group-debt shares drift with allocation changes; DAI and USDS do not hold separate copies of the same USDC stock.
- Peg mechanism
- Overcollateralized CDP vaults (auto-liquidated if ratio drops below minimum); LitePSM enabling 1:1 USDC↔DAI swaps; SKY (formerly MKR) acts as backstop (minted and sold to cover bad debt)
- Jurisdiction
- Not disclosed in the static profile.
- Proof of reserves
- No proof-of-reserves entry in the static profile.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
DAI quick answers
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What is DAI?
DAI is MakerDAO/Sky's dollar stablecoin, minted from crypto and RWA vaults and supported by stablecoin PSM liquidity. The static profile records its US Dollar peg mechanism as: Overcollateralized CDP vaults (auto-liquidated if ratio drops below minimum); LitePSM enabling 1:1 USDC↔DAI swaps; SKY (formerly MKR) acts as backstop (minted and sold to cover bad debt).
Is DAI safe?
As of Oct 24, 2026, Pharos grades DAI B (71/100) on its Safety Score. Pharos's reviews record that freeze exposure is inherited through upstream collateral, custody or wrappers, and any holder can use its reviewed redemption route. That grade is in the Score's upper band, which does not rule out losses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs DAI?
Pharos records DAI's reserves as of Sep 29, 2026 as 39.4% USDC (Sky LitePSM), 33.6% Spark (lending), 16.7% Grove (RWA), and 5 smaller holdings. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Crypto-Collateralized.
Can DAI be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies.
How do you redeem DAI?
Under the route Pharos reviewed on Mar 30, 2026, any holder can redeem DAI for USDC. Redemption settles atomically on-chain. The reviewed terms charge no percentage redemption fee. Whether a given holder qualifies is set by the route's own terms, not by this summary.
