I just bought some S&P500 @BlackRock ETFs directly on @AnthropicAI Claude. Feels pretty magical.
Via my own local MCP, @gnosischain and @BackedFi
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Mario Nawfal’s Roundtable
JUST IN: USER LOSES $199K USDT IN ADDRESS POISONING SCAM
FUNDS SENT TO LOOKALIKE WALLET
Source: @web3_antivirus
Mario Nawfal’s Roundtable
TRENCHES: SOMEONE JUST LOST $467,175 IN $DAI TO ADDRESS POISONING AFTER ACCIDENTALLY SENDING FUNDS TO A FAKE ADDRESS.
Source: @kkashi_yt
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TechFlow
By Alex Liu, Foresight News
The Sky ecosystem (formerly MakerDAO) launched Grove Finance, a new decentralized finance protocol, on June 25 and received a $1 billion initial funding grant from the Sky ecosystem to drive investments in tokenized credit assets, primarily collateralized loan vouchers (CLOs).
Grove is incubated by Grove Labs, a division of blockchain institution Steakhouse Financial, and its co-founders include Mark Phillips, Kevin Chan, and Sam Paderewski, among others. The core team has a rich background in traditional finance and DeFi, and has worked for Deloitte, Citigroup, BlockTower, Hildene and other institutions.
Steakhouse Financial has previously played a key role in bringing real-world assets (RWAs) to the Sky ecosystem, so the launch of Grove is seen as another important attempt by Sky to connect more traditional credit markets to DeFi.
Grove's product positioning and technology architecture
Grove is committed to building an "institutional-grade credit infrastructure" that functionally connects decentralized finance with the regulated traditional credit asset market. The protocol allows DeFi projects and asset managers to route idle funds through on-chain governance and invest in credit products that have undergone strict compliance (currently focusing on AAA-rated CLO strategies) to earn yields independent of crypto market volatility.
According to reports, the Sky ecosystem will invest start-up capital in the Anemoy AAA-rated CLO Strategy Fund (JAAA), managed by Janus Henderson (Aberdeen Standard Investments), which was launched in partnership with the Centrifuge platform and is the first AAA-rated CLO strategy to be tradable on-chain.
The Grove Protocol operates in an open-source, non-custodial form, aiming to build a "DeFi-traditional financial capital channel" to improve capital efficiency, reduce transaction friction, and provide programmatic and diversified fund allocation capabilities for asset managers and DeFi protocols. According to official information, Grove can establish new global distribution channels for asset managers, provide high-end on-chain capital partnerships for various protocols/DAOs, and enhance credibility and sustainability for the entire DeFi ecosystem.
In a nutshell, Grove's technology architecture revolves around on-chain governance and automated capital routing, transforming stablecoins or other idle capital held by crypto protocols into institutional-grade credit asset investments to optimize returns and risks.
Similarities and differences between Grove and Spark
The Spark protocol in the Grove ecosystem and the Spark protocol in the Sky ecosystem both belong to the autonomous sub-unit (subDAO, also known as "Star") under MakerDAO's (Sky) "Endgame" transformation plan, but the positioning and mechanism of the two are obviously different.
Launched in 2023, Spark is the first Star in the Sky ecosystem, featuring a revenue engine of "stablecoins + RWAs". Relying on the DAI/USDS stablecoin reserve issued by Sky, Spark has launched products such as SparkLend, Spark Savings and Spark Liquidity Layer (SLL). Users can deposit USDS, USDC, or DAI to participate in lending or farm earnings, and allocate funds to asset pools such as DeFi lending, CeFi lending, and tokenized treasury bonds through the dynamic risk engine, so as to obtain relatively stable income.
Deployed across multiple chains, Spark currently manages more than $3.5 billion in stablecoin liquidity, and has launched its native governance token, SPK (and airdropped to the community), where users can earn additional rewards by staking SPK, participating in governance, and Community Boost. With an emphasis on transparency and auditability, the Spark team targets a slightly higher level of return than U.S. Treasuries to meet the need for risk-adjusted returns
In contrast, Grove is more focused on large amounts of institutional-grade credit. Its first deployment of US$1 billion to connect with Aberdeen's AAA-rated CLO fund demonstrates that Grove is targeting users with larger capital and higher income stability requirements, such as asset managers and DeFi protocols. Grove has just been launched, and it is too early to launch a governance token, and its incentive mechanism is mainly reflected in allowing DeFi projects to "revitalize idle reserves and obtain returns on higher-quality assets".
To put it simply, Spark can be seen as a yield product of the Sky ecosystem for ordinary stablecoin holders, while Grove is an infrastructure protocol that builds on-chain credit channels for large-scale projects and institutions. Both are part of Sky's "Endgame" strategy, which focuses on introducing real assets on-chain: Spark enriches stablecoin yields with RWAs such as treasuries, and Grove enriches DeFi asset allocation with credit assets such as secured loans.
It can be seen that Grove is on the RWA track, focusing on completing the institutional credit puzzle outside the Spark system.
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Sanjay P. ⚡
The ‘GENIUS Act’ shakes the power of @Tether_to and could change the world of Stablecoins forever. The cryptocurrency industry is entering a major turning point in history as Stablecoins are about to have official regulations through a law called the "GENIUS Act" or Guiding and Establishing National Innovation for U.S. Stablecoins. This is a significant matter that cannot be overlooked. Today, I will summarize it for you. 🧵👇
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WORLD3
🧵 New Skills Unlocked in WORLD3 Agents 🔌
Our AI Agents just leveled up. With the latest skill plugins, your Agents can now trade, analyze DeFi markets, and manage Notion like pros.
Here’s what’s new and how YOU can use them 👇
#WORLD3 #AI #DeFi #Web3
The current price of DAI is $1.0001. Over the last 24 hours, DAI has increased by +0.00%. It currently has a circulating supply of 3,653,273,893 DAI and a maximum supply of 3,653,273,893 DAI, giving it a fully diluted market cap of $3.65B. At present, DAI holds the 22 position in market cap rankings. The DAI/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
DAI is a decentralized stablecoin designed to maintain a value of one US dollar. It is a product of MakerDAO, a decentralized autonomous organization (DAO) built on the Ethereum blockchain. The project was proposed by Rune Christensen, the founder of MakerDAO, in 2014 to create a stablecoin that was decentralized, transparent, and backed by collateral.
The first version of DAI, called Single-Collateral Dai, was launched in December 2017 and was initially backed only by Ethereum (ETH). Later, the Dai Stablecoin System evolved into a Multi-Collateral Dai system that allows different assets as collateral to back the stablecoin.
DAI has gained popularity as one of the most widely used decentralized stablecoins in the cryptocurrency ecosystem. By being backed by collateral and not pegged to a fiat currency, DAI can maintain its value stability while being transparent and accessible to everyone.
Unlike traditional stablecoins, such as Tether (USDT) and USD Coin (USDC), which are backed by fiat currency reserves, DAI is backed by collateral. Specifically, it is supported by Ethereum and other ERC-20 tokens deposited into a smart contract called a collateralized debt position (CDP).
The value of the collateral is maintained at a minimum of 150% of the value of the DAI that is issued. This ensures that there is always sufficient collateral to back the stablecoin and maintain its stability.
How does DAI work
The technology behind DAI is complex but can be broken down into several key components. The first component of the DAI technology is the CDP smart contract. This smart contract is used to collateralize assets to back the DAI stablecoin. Users can deposit Ethereum and other ERC-20 tokens into a CDP and receive DAI in return.
The value of the collateral is maintained at a minimum of 150% of the value of the DAI that is issued. This ensures that there is always sufficient collateral to back the stablecoin and maintain its stability.
The second component of the DAI technology is the stability mechanism. The stability mechanism is designed to ensure that the price of DAI remains stable at one US dollar. If the price of DAI rises above one US dollar, then the MakerDAO system incentivizes users to create more DAI by lowering the interest rate on CDPs.
If the price of DAI falls below one US dollar, then the MakerDAO system incentivizes users to buy back DAI by raising the interest rate on CDPs. This mechanism ensures that the price of DAI remains stable over time.
The third component of the DAI technology is the governance system. The governance system is used to manage the MakerDAO platform and make decisions about its future. Anyone who holds the DAI governance token can participate in the governance system.
The system is designed to be decentralized and transparent, with voting rights weighted by the amount of DAI each user holds. The governance system is responsible for making decisions about changes to the platform, such as adjusting the stability mechanism or adding new collateral types.
The final component of the DAI technology is the Ethereum blockchain itself. DAI is built on top of the Ethereum blockchain, which provides a secure and decentralized platform for creating and managing the stablecoin. The Ethereum blockchain stores the smart contracts that power the DAI system and executes transactions between users.
What is DAI used for
The DAI stablecoin is used for various purposes in the cryptocurrency ecosystem. One of its most significant use cases is as a medium of exchange. It can be used to buy and sell goods and services like any other currency. Additionally, it can be used as a store of value, as its price stability makes it an attractive alternative to volatile cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
Another critical use case for DAI is accessing decentralized finance (DeFi) applications. DeFi is a new and rapidly growing field that uses blockchain technology to create financial applications that are decentralized, transparent, and accessible to everyone.
Many DeFi applications use DAI as a stablecoin because it offers a stable value that is not subject to the volatility of other cryptocurrencies. As a result, DAI is used in various DeFi applications, including lending, borrowing, and trading.
The DAI token itself is used to govern the MakerDAO platform. Holders of DAI can participate in the MakerDAO governance system, allowing them to vote on proposals and make decisions about the platform's future. The governance system is designed to be decentralized and transparent; anyone can participate by holding DAI tokens.
About the founders
The founders of MakerDAO are Rune Christensen and Andy Milenius.Rune Christensen is the CEO and co-founder of MakerDAO. He has a background in design and entrepreneurship, having previously founded a web development and design agency. Christensen has been the driving force behind the creation of DAI and the MakerDAO platform.
Andy Milenius was the CTO and co-founder of MakerDAO. He has a background in software engineering, having previously worked at Google and several startups. Milenius was responsible for the technical design of the MakerDAO platform, including the development of the smart contracts that power the system. Milenius left the company in 2019.
The MakerDAO team has created a revolutionary stablecoin backed by collateral and designed to maintain a stable value of one US dollar. The team has a deep understanding of blockchain technology and has been working on the concept of a decentralized stablecoin for several years.
The MakerDAO team is highly respected in the blockchain community and has received several awards and accolades. Additionally, the MakerDAO platform has been recognized as one of the world's most innovative and impactful blockchain projects.
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Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 9.4K new posts about DAI, driven by 6.6K contributors, and total online engagement reached 11M social interactions. The sentiment score for DAI currently stands at 72%. Compared to all cryptocurrencies, post volume for DAI currently ranks at --. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of DAI.
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9,356
Contributors
6,552
Interactions
11,092,471
Sentiment
72%
Volume rank
--
X
Posts
3,975
Interactions
539,621
Sentiment
62%
DAI FAQ
What is DAI, and how is it created?
DAI is a stablecoin created through the Maker Protocol, a decentralized finance (DeFi) platform built on the Ethereum blockchain. DAI is generated by users who deposit collateral, such as Ether, into Maker Vaults and then mint DAI against that collateral. The Maker Protocol uses a system of smart contracts to ensure that the value of the collateral consistently exceeds the value of the DAI created, which helps to maintain the stability of the DAI token.
What is the DAI price prediction?
While it’s challenging to predict the exact future price of DAI, you can combine various methods like technical analysis, market trends, and historical data to make informed decisions.
How can I store my DAI?
DAI holders can store their tokens in various cryptocurrency wallets, including hardware and software wallets. However, it is essential to choose a wallet that offers strong protection against potential hacks or theft.
We provide a multi-chain OKX Web3 Wallet with all OKX accounts that allows you to fully self-custody your tokens. You can store DAI or any other cryptocurrency for as long as needed. In addition, the OKX Web3 Wallet offers inbuilt access to hundreds of decentralized applications (DApps) and the OKX NFT Marketplace.
What is the Maker Protocol, and how does it work?
The Maker Protocol is a DeFi platform that powers the creation of the DAI stablecoin. The Protocol uses a system of smart contracts to allow users to deposit collateral into Maker Vaults and mint DAI against that collateral.
The Maker Protocol also includes the MakerDAO governance system, which allows users to vote on changes to the platform, such as adjustments to the stability fee or collateralization ratio. The Maker Protocol is designed to be decentralized and transparent, with no central authority controlling the creation or management of DAI.
How does DAI ensure liquidity for its users?
DAI ensures liquidity for its users through several mechanisms. First, because DAI is a stablecoin with a value pegged to the US dollar, it can be easily exchanged for other cryptocurrencies or fiat currencies.
Additionally, DAI is listed on several cryptocurrency exchanges, including OKX, which provides users access to liquidity in various markets. Finally, the Maker Protocol includes a system of auctions that can be used to buy and sell DAI in the event of extreme market volatility, which helps maintain the token's stability and ensure that users can always access liquidity when they need it.
What is the difference between DAI and other stablecoins?
Unlike other stablecoins backed by fiat currency or commodities, DAI is backed by CDPs on the Ethereum blockchain. This means that DAI's stability is not tied to any centralized authority or external asset, making it a more decentralized and transparent stablecoin option.
Additionally, because the value of DAI is not tied to any specific asset, it can be used in a broader range of applications. As a result, it can be more easily integrated into DeFi ecosystems.
How does the DAI ecosystem incentivize stability?
The DAI ecosystem incentivizes stability through a system of penalties and rewards. If the value of DAI falls below its $1 peg, users who hold DAI can vote to increase the stability fee, which increases the cost of creating new DAI and incentivizes users to hold or buy DAI until the price stabilizes. Conversely, if the value of DAI rises above its $1 peg, the stability fee is lowered, incentivizing users to sell DAI and bringing the price back down.
What is the stability fee, and how does it affect DAI?
The stability fee is a fee paid by users who generate new DAI through collateralized debt positions (CDPs). The fee incentivizes users to hold or buy DAI when its value falls below the $1 peg.
Suppose the value of DAI falls below $1. In that case, the stability fee is raised, which increases the cost of generating new DAI and incentivizes users to hold or buy existing DAI until the price stabilizes. Conversely, if the value of DAI rises above $1, the stability fee is lowered, incentivizing users to sell DAI and bringing the price back down.
What is the role of MKR in the DAI ecosystem?
MKR is the native cryptocurrency of the MakerDAO platform, which powers the DAI stablecoin. MKR is used to govern the MakerDAO platform and to vote on changes to the system, such as changes to the stability fee.
Additionally, when users generate new DAI through collateralized debt positions (CDPs), they must pay a small amount of MKR as a transaction fee. The MKR collected from these transaction fees is burned, which reduces the total supply of MKR over time.
What is the DAI savings rate?
The DAI savings rate is an annualized interest rate paid to users who hold DAI in a designated savings account. The DAI savings rate is calculated based on the stability fee, the interest rate charged on collateral deposited in Maker Vaults.
When the stability fee is higher than the DAI savings rate, users are incentivized to hold DAI in the savings account and earn interest rather than using it to generate more DAI. The DAI savings rate can vary over time based on changes to the stability fee and demand for DAI. Holding DAI in the savings account can be a helpful strategy for users who want to earn a return on their assets without exposing themselves to excessive risk.
Is DAI safe to use?
DAI is built on the Ethereum blockchain, known for its robust security features. Additionally, because DAI operates in a decentralized manner, it is not subject to the same risks as traditional fiat currencies.
However, as with any crypto asset, including stablecoins and cryptos like Bitcoin (BTC) or XRP (XRP), there are risks associated with using DAI, such as the risk of price changes and volatility, the risk of losing access to your funds if you lose your private keys, and the risk of smart contract bugs.
Can the all-time high and all-time low for DAI be used to predict future price movements?
While the all-time high and all-time low for DAI can provide helpful context for traders, they should not be used as the basis for making purchasing decisions.The price of DAI, like any asset, is influenced by various factors, including market conditions, demand for the token, and overall sentiment toward the DeFi ecosystem. Therefore, it's essential to do your own research, stay informed about market trends, and consider all factors before buying DAI.
What affects the maximum supply of DAI?
The max supply of DAI is not fixed but is instead determined by the demand for the token and the amount of collateral held in Maker Vaults. As more collateral is deposited into Maker Vaults, more DAI can be generated, increasing the token supply.
Conversely, if the value of the collateral falls or demand for DAI decreases, the token supply can be reduced. This flexible supply mechanism helps to ensure that the value of DAI remains stable and that the token can be easily exchanged for other assets.
What is the future of DAI?
The future of DAI looks promising. As the cryptocurrency market continues to mature, stablecoins like DAI are becoming more widely adopted to avoid the volatility associated with other digital currencies.
Additionally, as the Ethereum ecosystem grows, more decentralized applications are being built on top of the platform, likely increasing the demand for DAI. Finally, the development team behind DAI is constantly working to improve the system's stability and add new features, which should help drive adoption in the future.
How much is 1 DAI worth today?
Currently, one DAI is worth $1.0001. For answers and insight into DAI's price action, you're in the right place. Explore the latest DAI charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as DAI, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as DAI have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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