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Record sog_st_dai
DAI/Dai
Also recorded as DAI
- Lifecycle
- Active
- Issuance
- Protocol-based
- Reference target
- US dollar
- Primary organization
- MakerDAO / SkyNo additional recorded relationship
- Launch
- 2017-12-18
- Redemption
- Protocol Based
- Backing
- Crypto-collateralized
- Stabilization
- Overcollateralized vault
- Last review
- 2026-06-04
- Evidence
- 9 source records
Reviewed assessment
Identity and current state
This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.A decentralized, multi-collateral stablecoin created through MakerDAO and now connected to the wider Sky ecosystem.
| Name | Dai |
|---|---|
| Symbol | DAI |
| Aliases | DAI |
| Asset class | Stablecoin |
| Lifecycle status | Active |
| Issuance status | Protocol-based |
| Canonical record ID | sog_st_dai |
| Route slug | dai |
| Record confidence | Medium |
| Last reviewed | 2026-06-04 |
- Name
- Dai
- Symbol
- DAI
- Aliases
- DAI
- Asset class
- Stablecoin
- Lifecycle status
- Active
- Issuance status
- Protocol-based
- Canonical record ID
sog_st_dai- Route slug
dai- Record confidence
- Medium
- Last reviewed
- 2026-06-04
Record coverage
| Section | Entries |
|---|---|
| Organizations | 1 |
| Sources | 9 |
| Reserve reports | 1 |
| Reserve components | 1 |
| Model-history events | 4 |
| Regulatory notes | 1 |
| Deployments | 1 |
| Issuer-control actions | 0 |
| Open questions | 3 |
| Events | 4 |
Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.
- Governance
- DAO Governed
- Primary display organization
- MakerDAO / Sky
- Primary display role
- Protocol operator
- Display selection mode
- Deterministic Policy
- Current relationships
- 1
- Ended relationships
- 0
- Unknown relationship state
- 0
- Freeze capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Blacklist capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Deployment control-event references
- 0
- Observed issuer-control events
- 0
- Relationship coverage
- 1 recorded relationship
| Organization | Organization category | Regulatory character | Jurisdiction | Role | Display priority | From | Until | Relationship status |
|---|---|---|---|---|---|---|---|---|
| MakerDAO / Sky | Protocol or software system | Protocol or decentralized system | Unknown or not publicly resolved | Protocol operator | Primary display | 2017-12-18 | Not yet recorded | Active relationship |
Protocol or software system
Primary displayMakerDAO / Sky
- Functional role
- Protocol operator
- Relationship status
- Active relationship
- Regulatory character
- Protocol or decentralized system
- Jurisdiction
- Unknown or not publicly resolved
- From
- 2017-12-18
- Until
- Not recorded
Mechanism
How the asset works
Reference, backing, stabilization, exit, valuation, and yield remain separate facts.- Reference target
- US dollar
- Reference kind
- Fiat
- Comparison category
- US dollar
- Target value
- 1
- Reference methodology
- Targets a US dollar reference value unless the record documents a different target value.
- Public backing model
- Crypto-collateralized
- Canonical backing types
- Mixed
- Reserve component categories
- Unknown
- Primary stabilization mechanism
- Overcollateralized vault
- Recorded model description
- Multi-collateral
- Redemption / exit model
- Protocol Based
- Valuation source
- Public information is incomplete
- Yield / rebase profile
- None recorded
- Classification notes
- Not recorded
Reserve and redemption
Reserve and redemption
Recorded components, disclosures, reports, and redemption conditions remain explicit.Reserve components
- Mixed backing; component breakdown unresolvedUnknown after review
| Disclosure status | Partial / protocol-transparent |
|---|---|
| Backing types | Mixed |
| Summary | Collateral and protocol exposures are tracked through protocol transparency rather than a single issuer reserve account. |
| As of | 2026-06-04 |
| Profile confidence | Medium |
- Disclosure status
- Partial / protocol-transparent
- Backing types
- Mixed
- Summary
- Collateral and protocol exposures are tracked through protocol transparency rather than a single issuer reserve account.
- As of
- 2026-06-04
- Profile confidence
- Medium
| Current status | Protocol Based |
|---|---|
| Settlement asset | Protocol Collateral or Market Exit |
| Eligible parties | Protocol users subject to available protocol mechanisms and market liquidity. |
| Retail access | Protocol or Market Based |
| Institutional access | Protocol or Market Based |
| Minimum amount | Protocol-specific. |
| Fee | Protocol- and market-dependent. |
| Settlement time | Protocol- and market-dependent. |
| Regional limits | Sky.money is a non-custodial interface to Sky Protocol and includes USDS/sUSDS-related products and conversions. DAI, USDS, Sky Savings Rate, collateral, PSM, and successor or parallel asset relationships require source-specific lifecycle treatment. |
- Current status
- Protocol Based
- Settlement asset
- Protocol Collateral or Market Exit
- Eligible parties
- Protocol users subject to available protocol mechanisms and market liquidity.
- Retail access
- Protocol or Market Based
- Institutional access
- Protocol or Market Based
- Minimum amount
- Protocol-specific.
- Fee
- Protocol- and market-dependent.
- Settlement time
- Protocol- and market-dependent.
- Regional limits
- Sky.money is a non-custodial interface to Sky Protocol and includes USDS/sUSDS-related products and conversions. DAI, USDS, Sky Savings Rate, collateral, PSM, and successor or parallel asset relationships require source-specific lifecycle treatment.
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| 2026-06-04 | Sky / MakerDAO ecosystem | Protocol Disclosure | Multi-collateral, Vault System, PSM or Conversion Context, Surplus Buffer or Protocol Context, Not yet recorded | Medium |
Sky / MakerDAO ecosystem
2026-06-04- Type
- Protocol Disclosure
- Assets covered
- Multi-collateral, Vault System, PSM or Conversion Context, Surplus Buffer or Protocol Context, Public information incomplete
- Record confidence
- Medium
Deployments and legal context
Deployments and legal context
Network state, contract identity, legal notices, and value states remain separate.| Network | Network record state | Standard | Public deployment category | Canonical deployment type | Operational state | Recorded status | Change or proposal state | Canonicality | Canonicality record state | Verification state | Contract identity state | Contract or identifier | Freeze | Blacklist | Control events | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | Specific network recorded | Not yet recorded | Protocol-native or protocol-supported deployment | Protocol Token | Active | Active | No separate change state recorded | Native deployment | Canonicality recorded | Verified | Identifier recorded | 0x6B175474E89094C44Da98b954EedeAC495271d0F | Not yet recorded | Not yet recorded | 0 | Sky/USDS lifecycle and successor or parallel-asset relationships remain separate from this deployment identifier. |
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| 2024-08-27 | MakerDAO / Sky lifecycle transition context | Sky / MakerDAO ecosystem | Protocol history | MakerDAO's Sky transition and related token/product changes should be recorded as protocol history. The archive keeps DAI, Sky, USDS, MKR/SKY, savings products, and collateral mechanisms separated until exact documented lifecycle records are added. |
MakerDAO / Sky lifecycle transition context
2024-08-27MakerDAO's Sky transition and related token/product changes should be recorded as protocol history. The archive keeps DAI, Sky, USDS, MKR/SKY, savings products, and collateral mechanisms separated until exact documented lifecycle records are added.
- Authority / publisher
- Sky / MakerDAO ecosystem
- Type
- Protocol history
Evidence
Evidence
Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.| Source | Publisher | Source category | Provenance | Primary or secondary | Supported claims | Archive | Reliability |
|---|---|---|---|---|---|---|---|
| MakerDAO / Sky documentation for Dai Published Not yet recorded | Sky / MakerDAO ecosystem | Official statement or announcement Canonical: Issuer Statement | Subject-controlled source | Primary source | Collateral Model, Entity Lifecycle, Dai Lifecycle Context | No archive recorded | Medium |
| MakerDAO governance/forum lifecycle reference Published Not yet recorded | Sky / MakerDAO governance forum | Governance record Canonical: Governance Reference | Governance primary source | Primary source | Governance Lifecycle, Black Thursday Context | No archive recorded | Medium |
| Sky.money page Published Not yet recorded | Sky.money | Official documentation or product page Canonical: Protocol Page | Subject-controlled source | Primary source | USDS, sUSDS, Sky Savings Rate, non-custodial access, yield disclaimers, US availability notes, and protocol/interface separation, Dai Sky Lifecycle Context, Protocol Asset Classification, Protocol Collateral Backing, Usdc Usds Conversion, Decentralized Governance, Non Custodial Interface Separation, Usds Protocol Asset Collateral System Conversion and Non Custodial Interface Separation | No archive recorded | High |
| The Maker Protocol White Paper Published Not yet recorded | MakerDAO / Sky | Technical documentation or repository Canonical: Official Whitepaper | Subject-controlled source | Primary source | protocol asset structure, collateralized generation, vault collateral control, and absence of conventional issuer redemption claim | No archive recorded | High |
| Multi-Collateral Dai is live Published 2019-11-18 | MakerDAO | Official statement or announcement Canonical: Official Statement | Subject-controlled source | Primary source | Migration Event, Launch Date, Identity Transition | Archive index or wildcard | High |
| Single-Collateral Dai to Multi-Collateral Dai migration documentation Published Not yet recorded | MakerDAO Documentation | Official documentation or product page Canonical: Official Documentation | Subject-controlled source | Primary source | Migration Mechanics, Redemption Exit, Identity Transition | Archive index or wildcard | High |
Known unknowns
Known unknowns and coverage
Missing or disputed facts remain visible instead of being converted into certainty.| Topic | What remains unclear | Value state | Priority | Last checked |
|---|---|---|---|---|
| Lifecycle Transition | DAI, Sky, USDS, MKR/SKY, savings products, upgrade/conversion flows, and related successor or parallel token lifecycle details require dedicated documented lifecycle records. | Unknown after review | Medium | 2026-06-04 |
| Collateral Composition | DAI collateral composition, real-world asset exposure, PSM exposure, surplus buffer, and protocol risk parameters need exact dashboard or documentation sources before SOG displays a historical collateral timeline. | Unknown after review | Medium | 2026-06-04 |
| Redemption Mechanics | DAI redemption-like exits through protocol mechanisms, market liquidity, PSM-like flows, USDS/Sky upgrade or conversion flows, and successor product routes need source-specific explanation and should not be described as fiat-backed issuer redemption. | Unknown after review | Medium | 2026-06-04 |
Lifecycle Transition
DAI, Sky, USDS, MKR/SKY, savings products, upgrade/conversion flows, and related successor or parallel token lifecycle details require dedicated documented lifecycle records.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-04
Collateral Composition
DAI collateral composition, real-world asset exposure, PSM exposure, surplus buffer, and protocol risk parameters need exact dashboard or documentation sources before SOG displays a historical collateral timeline.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-04
Redemption Mechanics
DAI redemption-like exits through protocol mechanisms, market liquidity, PSM-like flows, USDS/Sky upgrade or conversion flows, and successor product routes need source-specific explanation and should not be described as fiat-backed issuer redemption.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-04
Lifecycle
History
Current classification remains separate from dated changes and incidents.Model and lifecycle changes
| Date | Event | Category | Subtype | Status effect | Recovery |
|---|---|---|---|---|---|
| 2019-11-18 | Multi-Collateral Dai launch | Migration and rebrand | Protocol Transition | No lifecycle change | Not applicable |
| 2019-11-18 | Single-Collateral Dai becomes SAI during the Multi-Collateral Dai launch | Migration and rebrand | Migration | Migrated | Not applicable |
| 2020-03-12 | Dai and MakerDAO during Black Thursday | Depeg and peg stress | Market Stress Liquidation Event | No lifecycle change | Recovered |
| 2024-08-27 | MakerDAO introduces the Sky brand and USDS | Migration and rebrand | Rebrand or Lifecycle Transition | No lifecycle change | Not applicable |
Related records and corrections
Corrections and further reading
Open connected records, methodology, machine-readable data, or report a correction.Use these explainers to compare the legal, regulatory, reserve, redemption, or distribution questions connected to this record.
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MiCA and Stablecoins
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UK Stablecoin Rules: Capital Is Not Backing
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- All stablecoinsCompare this record with the rest of the archive.
- MakerDAO / SkyUnknown or not publicly resolved
- Event registry4 connected events recorded.
- MethodologyRead classification, evidence, and value-state rules.
- CorrectionsReport a source, relationship, or record problem.
- Data manifestInspect the machine-readable public layer.