DAIvsPYUSD
Dai vs PayPal USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
DAI — Dai
PYUSD — PayPal USD
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Supply moved almost identically over the last 30 days: DAI -1.6%, PYUSD -2.4%. Both held within about 5 bps of target across the same window.
Key differences
- DAI is roughly 1.7× larger than PYUSD by USD circulation value ($4.79B vs $2.78B).
- DAI ranks #4 while PYUSD ranks #9 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; PYUSD is fiat-backed. Different mechanism, different failure modes.
- Reserves differ — DAI holds overcollateralized crypto cdp, PYUSD holds cash & t-bills (paypal).
- DAI is deployed on 49 chains — much broader coverage than PYUSD's 19.
Full comparison table
| Metric | DAI | PYUSD |
|---|---|---|
| USD circulation value | $4.79B | $2.78B |
| Rank (by USD value) | #4 | #9 |
| Peg | USD | USD |
| Mechanism | crypto-backed | fiat-backed |
| Backing | Overcollateralized crypto CDP | Cash & T-bills (PayPal) |
| Chains deployed | 49 | 19 |
| Primary chain | Ethereum | Ethereum |
| Issuer | Sky (formerly MakerDAO) | Paxos Trust Company (for PayPal) |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between DAI and PYUSD?
Both track USD, so they compete for the same use cases. DAI holds overcollateralized crypto cdp; PYUSD holds cash & t-bills (paypal). DAI ranks #4 by USD value and PYUSD ranks #9.
Which is bigger, DAI or PYUSD?
DAI is larger, with $4.79B in circulation vs $2.78B for PYUSD. That's roughly 1.7× the size.
Is DAI safer than PYUSD?
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; PYUSD uses a fiat-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between DAI and PYUSD?
Yes. DAI and PYUSD 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 PYUSD?
The right choice depends on your use case. Consider: which chain do you need? DAI is available on 49 chains and PYUSD on 19. 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.