About DAI and SOMM
Dai is falling, while Sommelier is climbing this week. The current DAI to SOMM conversion rate is 1,560.49. Inversely, this means that if you convert 1 SOMM you will get 0.0006408 DAI. The conversion rate of DAI/SOMM has increased by 0.45% in the last hour (SOMM/DAI decreased by 0.45%). In the last 24 hours, DAI/SOMM shrunk by 34.49%, while SOMM/DAI grew by the same amount.
The exchange rate of Dai is decreasing. The current value of 1 DAI is 1,560.49 SOMM. In other words, to buy 5 Dai, it would cost you 7,802.44 SOMM. Inversely, 1 SOMM would allow you to trade for 0.0006408 DAI while 50 SOMM would convert to 0.03204 DAI, not including platform or gas fees.
In the last 7 days, the exchange rate has fallen by 50.21%. Meanwhile, in the last 24 hours, the rate has changed by 34.37%, and that the highest exchange rate of 1 DAI to SOMM was 2,096.85 SOMM and the lowest 24 hour value was 1 DAI for 1,202.60 SOMM. Last month, 1 DAI was worth 1,662.00 SOMM. Today, it's down 6.51%. Looking back a year, Dai has changed by 795.38 SOMM. That means that in a single year, the value of Dai has grown by 49.03%.
Dai Market Stats
Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, Dai isn't backed by US dollars in a bank account. Instead, it’s backed by collateral on the Maker platform. Note: if the Dai credit system is upgraded or shutdown, Dai holders may need to convert their Dai to Ethereum through the Maker platform. Read more at makerdao.com/whitepaper.
Sommelier Market Stats
Sommelier is a non-custodial, cross-chain platform for executing actively-managed DeFi investment strategies. Community members can create Cellars that execute on an investment strategy through smart contracts. Cellars are powered by Strategy Providers (SPs) who develop trading strategies and send the recommended actions to the Sommelier Validators to be executed on the Cellar with the intention of gaining yield. Cellars can be strategies like: A portfolio of BTC and ETH that is rebalanced based on price trends that machine learning algorithms identify An NFT trading strategy that leverages Twitter sentiment around particular collections A strategy that hedges liquidity provision on DEXes Sommelier employs a unique architecture consisting of the Sommelier Cosmos SDK blockchain, an off-chain execution environment that keeps strategies private while allowing them to leverage a wide variety of off-chain data modeling techniques, and one of the best performing ETH bridges. Strategy instructions are passed across this bridge to reposition assets in Cellars. This bridge is also being expanded to allow access to other chains (like Polygon, Avalanche, etc) so strategies are not tied to just high gas ETH markets. Sommelier aggregates and batches transactions, thereby reducing gas fees, providing an attractive alternative to Ethereum’s high transaction costs. As for security, Sommelier uses a decentralized governance mechanism run by validators, ensuring state-of-the-art safety of user funds. Validators pass strategy instructions across the bridge, but users’ assets are never moved across it, instead being deployed directly into Cellars. Further, Cellars are non-custodial, meaning that users can withdraw their assets at any time, while strategy providers never have ownership of those assets.
Conversion tables
DAI to SOMM values from Today at 2:58 pm
0.5 DAI = 780.24 SOMM |
1 DAI = 1,560.49 SOMM |
5 DAI = 7,802.44 SOMM |
10 DAI = 15,604.88 SOMM |
50 DAI = 78,024.39 SOMM |
100 DAI = 156,048.79 SOMM |
500 DAI = 780,243.95 SOMM |
1,000 DAI = 1,560,487.90 SOMM |
SOMM to DAI values from Today at 2:58 pm
0.5 SOMM = 0.0003204 DAI |
1 SOMM = 0.0006408 DAI |
5 SOMM = 0.003204 DAI |
10 SOMM = 0.006408 DAI |
50 SOMM = 0.03204 DAI |
100 SOMM = 0.06408 DAI |
500 SOMM = 0.3204 DAI |
1,000 SOMM = 0.6408 DAI |
DAI to SOMM over time
DAI | Today | 24H -34.37% | 1M -6.51% | 1Y 49.03% |
|---|---|---|---|---|
0.5 DAI | 780.24 SOMM | 1,048.42 SOMM | 831.00 SOMM | 397.69 SOMM |
1 DAI | 1,560.49 SOMM | 2,096.85 SOMM | 1,662.00 SOMM | 795.38 SOMM |
5 DAI | 7,802.44 SOMM | 10,484.23 SOMM | 8,309.99 SOMM | 3,976.92 SOMM |
10 DAI | 15,604.88 SOMM | 20,968.45 SOMM | 16,619.98 SOMM | 7,953.85 SOMM |
50 DAI | 78,024.39 SOMM | 104,842.25 SOMM | 83,099.92 SOMM | 39,769.24 SOMM |
100 DAI | 156,048.79 SOMM | 209,684.50 SOMM | 166,199.84 SOMM | 79,538.48 SOMM |
500 DAI | 780,243.95 SOMM | 1,048,422.50 SOMM | 830,999.18 SOMM | 397,692.41 SOMM |
1,000 DAI | 1,560,487.90 SOMM | 2,096,845.01 SOMM | 1,661,998.36 SOMM | 795,384.83 SOMM |
Frequently asked questions
Right now, 1 Dai is worth about $0.9996.
Based on the current rate, you could get 1.00 DAI for 1 USD.
Dai price has been on the rise. Since yesterday, the exchange rate of Dai has increased. Since last month, the exchange rate of Dai has increased. Since this time last year, the price of Dai has decreased.
You can use our DAI to USD calculator at the top of this page to convert any amount of DAI to USD. We've also created a couple of quick reference tables for the most popular conversions. For example, 5 USD is equivalent to 5.00 DAI. Inversely, 5 DAI will cost about $5.00
Dai is available to trade on DEX within your Coinbase app. Check out our guide to get more detailed instructions on how to buy Dai.
There are a number of crypto assets that have the a similar or comparable market cap to Dai, including Chainlink, Ethena USDe, and Canton. For a more robust list of assets to explore, jump to the asset page dedicated to Dai.
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