---
title: "Dai (DAI) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/dai-makerdao/"
description: "Build-time stablecoin profile for Dai (DAI). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Dai (DAI)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

DAI is MakerDAO's decentralized USD stablecoin; CDP-minted but now mostly backed by Treasuries and USDC via the PSM. DAI is the stablecoin that proved crypto could create a dollar without a bank account, and seven years later it still earns the highest decentralization grade in the top ten — an A that reflects genuine DAO governance rather than a multisig cosplaying as one. The reserve composition has drifted far from crypto-purist origins: 40% U.S. {{term:treasury}}Treasuries{{/term}}, 33% USDC through the {{term:psm}}PSM{{/term}}, with only a quarter in crypto collateral, making DAI functionally a hybrid fiat-crypto dollar. More depeg events on record than any other major stablecoin sounds alarming until you notice the peg score still sits in the high nineties, and the {{term:redemption}}redemption{{/term}} backstop — atomic PSM access at zero fee — scores higher than almost everything else on the dashboard. Now overshadowed by its own rebrand as USDS, DAI occupies a strange position: the philosophical North Star of decentralized money, increasingly backed by the centralized assets it was designed to replace. {{term:cdp}}CDP{{/term}} vaults remain the original minting path.

## Collateral

Multi-collateral Sky/MakerDAO balance sheet: Spark lending exposure (~33%), stablecoins through the PSM (~32%), Grove RWA allocations (~24%), Obex (~5%), core crypto vaults (~4%), Staking Engine (~1%), and legacy RWA (~1%).

## Peg Mechanism

Overcollateralized CDP vaults (auto-liquidated if ratio drops below minimum); LitePSM enabling 1:1 USDC↔DAI swaps; MKR acts as backstop (minted and sold to cover bad debt)

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x6b175474e89094c44da98b954eedeac495271d0f` | 18 |
| polygon | `0x8f3cf7ad23cd3cadbd9735aff958023239c6a063` | 18 |
| arbitrum | `0xda10009cbd5d07dd0cecc66161fc93d7c9000da1` | 18 |
| optimism | `0xda10009cbd5d07dd0cecc66161fc93d7c9000da1` | 18 |
| bsc | `0x1af3f329e8be154074d8769d1ffa4ee058b1dbc3` | 18 |
| avalanche | `0xd586e7f844cea2f87f50152665bcbc2c279d8d70` | 18 |
| fantom | `0x8d11ec38a3eb5e956b052f67da8bdc9bef8abf3e` | 18 |
| base | `0x50c5725949a6f0c72e6c4a641f24049a917db0cb` | 18 |
| gnosis | `0x44fa8e6f47987339850636f88629646662444217` | 18 |
| solana | `EjmyN6qEC1Tf1JxiG1ae7UTJhUxSwk1TCWNWqxWV4J6o` | 8 |
| klaytn | `0x5c74070fdea071359b86082bd9f9b3deaafbe32b` | 18 |
| kava | `0x765277eebeca2e31912c9946eae1021199b39c61` | 18 |
| near | `6b175474e89094c44da98b954eedeac495271d0f.factory.bridge.near` | 18 |
| pulsechain | `0xefd766ccb38eaf1dfd701853bfce31359239f305` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/dai-makerdao.