DAIvsOUSD
Dai vs Open USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
DAI — Dai
OUSD — Open USD
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Both held within about 3 bps of target across the same window.
Key differences
- DAI is roughly 6.9× larger than OUSD by USD circulation value ($4.80B vs $698.8M).
- DAI ranks #5 while OUSD ranks #17 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- DAI is a crypto-backed stablecoin; OUSD is fiat-backed. Different mechanism, different failure modes.
- DAI reports overcollateralized crypto cdp in reserve. We do not track a published reserve breakdown for OUSD.
- DAI is deployed on 49 chains — much broader coverage than OUSD's 4.
- Primary chain differs — most DAI supply lives on Ethereum, while most OUSD supply is on Tempo.
Full comparison table
| Metric | DAI | OUSD |
|---|---|---|
| USD circulation value | $4.80B | $698.8M |
| Rank (by USD value) | #5 | #17 |
| Peg | USD | USD |
| Mechanism | crypto-backed | fiat-backed |
| Backing | Overcollateralized crypto CDP | — |
| Chains deployed | 49 | 4 |
| Primary chain | Ethereum | Tempo |
| Issuer | Sky | — |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between DAI and OUSD?
Both track USD, so they compete for the same use cases. DAI holds overcollateralized crypto cdp. We track no published reserve breakdown for OUSD. DAI ranks #5 by USD value and OUSD ranks #17.
Which is bigger, DAI or OUSD?
DAI is larger, with $4.80B in circulation vs $698.8M for OUSD. That's roughly 6.9× the size.
Is DAI safer than OUSD?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. DAI uses a crypto-backed model; OUSD uses a fiat-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between DAI and OUSD?
Yes. DAI and OUSD both trade on major centralized and decentralized exchanges. Since both track USD, the exchange rate is typically very close to 1:1. Direct swap protocols on Ethereum, Solana, and other chains offer the tightest spreads.
Should I choose DAI or OUSD?
The right choice depends on your use case. Consider: which chain do you need? DAI is available on 49 chains and OUSD on 4. What backing do you prefer? What's your integration surface (exchanges, DeFi protocols, payment providers)? Both have deep liquidity, so market cap alone shouldn't decide it.