This is mostly right. Tether competes with no one else in the $60 Trillion dollar non-yield bearing M2 market.
Tron + Ethereum make up ~$30 billion+ in daily USDT volume. We're 20x away from $600 Billion in daily flow, representing 1% of this market.
Green asset thesis.
PaperImperium
For perspective, Tether competes mostly with nobody else against the $1.15T of currency and $16T non-US bank dollar deposits.
USDC + Paxos compete with $7T uninsured USD deposits & trying hard to enter other businesses (like Euro)
Every DeFi stable scrums it out over $110b total DeFi TVL
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9999.btc◉不二花和尚
US stocks fi
#defi #stablecoins #rwa #tokenization of US stocks #US stocks on-chain
carolyn lin
In this cycle, I clearly see stablecoins acting like vampires, draining the liquidity of long-tail crypto assets and then "transfusing blood" back into the US stock market, creating a new "DeFi Summer," but this time the main character is the US stock market!
What was the situation during the DeFi Summer of 2020? A bunch of small coins and long-tail assets (those "air coins" that no one pays attention to) were driven up to the sky, with liquidity all sucked into AMM pools like Uniswap and SushiSwap. Stablecoins (USDT, DAI, USDC) became the "star-absorbing technique," with retail investors exchanging ETH and BTC for stablecoins, which were then locked into liquidity pools, causing the entire DeFi TVL to soar. Similar to the current Bn alpha, meme prices fluctuate wildly, retail investors are left dizzy from being cut, but big players are raking in profits through market making and arbitrage with BNB.
Now, in 2025, this "US stock Summer" has changed its foundation. It’s no longer the era of playing with ETH/Doge; instead, it’s about holding excellent US stock assets like Apple, Tesla, and Amazon. RWA becomes on-chain assets, thrown into DeFi protocols as collateral. Stablecoins are still the same "vampires," but this time they are consuming the liquidity of on-chain stocks. How do they do it? You collateralize Wapple into a lending protocol (like an upgraded version of Aave or Compound), borrow USDC or USDT, and then these stablecoins are used in Curve, Balancer, or new aggregation protocols to exchange for other assets or directly withdraw to off-chain, turning into dollars in your bank account. This process is like a black hole: the liquidity of on-chain stock assets is absorbed by stablecoins, turning into the TVL of lending protocols, which appear "prosperous," but in reality, the funds have already flowed off-chain through stablecoins.
You can then buy Tesla, Apple, or that small-cap stock you control off-chain. The US stock market is directly injected with liquidity from this "cash extracted from on-chain," increasing trading volume, stabilizing stock prices, and even pushing them higher. Isn’t this just a reverse blood transfusion for the US stock market? The DeFi Summer was a carnival for ETH and altcoins, and now the US stock market has become the underlying asset, with stablecoins still playing around, eating from both on-chain and off-chain!
What’s even more amazing is that this "US stock Summer" can self-cycle. The US stocks you buy off-chain can be tokenized again, re-bridged to DeFi, continue to be collateralized, borrow stablecoins, withdraw cash, and buy stocks, cycling back and forth. Stablecoins act like an ever-tireless "mover," absorbing the scattered liquidity of long-tail crypto (those small protocols and air coin pools) and converting it into real money in the off-chain US stock market. Retail investors, still acting as the bag holders for MEME on-chain, have no idea that their liquidity has been "stolen" by stablecoins, indirectly becoming fuel for the US stock market.
This play is even more intense than in 2020 because the scale and compliance of the US stock market directly outclassed the altcoins of that year. On-chain protocols recognize the premium price, while off-chain brokers recognize cash in dollars; stablecoins are the "lubricant" in between. As long as you control the rhythm well, raise the off-chain prices of a few small-cap stocks, the on-chain protocols will treat them as "quality assets," releasing massive stablecoin loans, and the entire system will function like a money printing machine. Once the market heats up, both retail and institutional investors will rush in, and the TVL and US stock trading volume will soar together, a sure "2025 US stock Summer"! As for who will be left holding the bag in the end? Hey, it’ll be the protocol liquidation system and the late retail investors; you’ll have already run away with fiat.
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kkoo ∑: 🐙🐦🎩🔆
Finished 81st in the Bullrun!!👀
@infinex
I got lucky this time and did well!!
What’s going on? haha
Since all the coins were dropping, I just stuck to stablecoins, and look at the results~ Amazing!!
Also, since there’s a strong trend of projects nearing TGE, the number of participants in Infinex has decreased a lot~ There were over 40,000 participants in the Bullrun, but it has dropped to the 20,000s.
I think it would be good to gradually increase during times like this^^
The "APPS" feature of Infinex has been launched, but it’s exclusive to Patrons, so I can’t access it yet.
▪️ One-click automatic connection
▪️ Clear signature prompt
▪️ Built-in portfolio management with Swidge
▪️ Multi-chain support
What if the value of Patron increases with the improved user experience on Infinex?!
Should I buy Patron...
It seems like the benefits for Patron holders might keep increasing!!
kkoo ∑: 🐙🐦🎩🔆
Is the deadline tomorrow like this??
BULLRUN is tough.. currently ranked 97th?!!
@infinex
If the deadline is at 9 AM tomorrow, I think I can earn quite a few Bullrun points^^
Should I lock it in?😅😅
(The number of participants has dropped from 40,000 to 20,000)
You know that Infinex has a lot of rewards, so you should definitely take advantage of it, right?
If we finish up to Season 3 and then have the TGE, I think we should hold it long-term~
Let's keep posting consistently^^
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PaperImperium
For perspective, Tether competes mostly with nobody else against the $1.15T of currency and $16T non-US bank dollar deposits.
USDC + Paxos compete with $7T uninsured USD deposits & trying hard to enter other businesses (like Euro)
Every DeFi stable scrums it out over $110b total DeFi TVL
PaperImperium
USDT supply ≈ 6.6% of the total USD cash supply
Think about that for a moment.
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Song
In the era of AI, imagination and execution can quickly create wealth, faster than ever before. Blockchain is the most suitable soil for AI to operate, and this is a once-in-a-lifetime opportunity.
Song
By minting wDAI through DOGE, the DOGE ecosystem becomes richer. wDAI allows everyone to avoid spending DOGE and missing out on its price increase. The Cardinals protocol perfectly accommodates AI, enabling AI to program blockchains in various languages without being limited by smart contract programming.
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DAI price performance in USD
The current price of DAI is $0.99970. Over the last 24 hours, DAI has decreased by -0.03%. It currently has a circulating supply of 3,594,711,794 DAI and a maximum supply of 3,594,848,699 DAI, giving it a fully diluted market cap of $3.59B. At present, DAI holds the 0 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.
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 7.7K new posts about DAI, driven by 5.7K contributors, and total online engagement reached 11M social interactions. The sentiment score for DAI currently stands at 62%. 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.
Powered by LunarCrush
Posts
7,701
Contributors
5,709
Interactions
10,501,686
Sentiment
62%
Volume rank
--
X
Posts
2,360
Interactions
1,828,190
Sentiment
40%
DAI FAQ
How much is 1 DAI worth today?
Currently, one DAI is worth $0.99970. 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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