DAI

DAI is a decentralized stablecoin soft-pegged to the US dollar, backed by a mix of crypto assets managed by the MakerDAO protocol.

Why it matters on AGON

AGON uses USDC for all collateral and settlement on Base. However, DAI is a core asset in the DeFi ecosystem where many of our users operate. You can't ignore it.

Think of DAI as a primary fiat on-ramp for DeFi natives. Many users hold DAI as their default stablecoin due to its on-chain transparency and censorship-resistance. To bet on AGON, these users will typically bridge their DAI to Base, then perform a simple swap to USDC before depositing funds into our markets at /markets. It's a key part of the liquidity pipeline into the AGON ecosystem.

How to apply

The primary use case for DAI in the AGON context is funding your account. The process is direct. First, bridge your DAI from Ethereum or another L2 to your wallet on Base. Once the funds arrive, use a decentralized exchange (DEX) to swap DAI for USDC. The swap rate should be nearly 1:1, minus minor gas and pool fees.

Unlike centrally-issued stablecoins like USDC or USDT which are backed by corporate-held assets, DAI is generated when users deposit collateral into Maker Protocol smart contracts. This on-chain issuance model removes single-company counterparty risk, replacing it with smart contract risk. For many, holding DAI is a based choice for its alignment with core DeFi principles.

See also

usdc · usdt · frax · stablecoin

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