DAI on Pulsechain (DAI)

DAI on PulseChain, commonly referred to as pDAI, is a forked version of the Ethereum stablecoin DAI that exists on the PulseChain network. When PulseChain forked the Ethereum mainnet state in May 2023, every ERC-20 token balance at the snapshot block was duplicated onto the new chain. DAI was among those tokens, and its PulseChain counterpart kept the same contract address (0x6B175474E89094C44Da98b954EedeAC495271d0F) but became a separate asset with no connection to MakerDAO collateral or the Ethereum-side DAI peg.

Because pDAI is not backed by the collateralized debt positions that secure Ethereum-native DAI, it does not hold a $1 peg. Its market price is determined entirely by trading activity on PulseChain decentralized exchanges, with most volume flowing through PulseX, the network’s main automated market maker. The total supply on PulseChain was inherited from the Ethereum DAI supply at the fork block and currently stands at roughly 44.36 billion tokens, with the same balance allocated to every address that held DAI at the snapshot. There is no central issuer, mint function, or redemption mechanism for pDAI on PulseChain.

The PulseChain DAI community operates an informational site at pulsechaindai.com and coordinates updates through the PulseChainDAI Telegram channel and Twitter account. The token is sometimes positioned as a candidate for a future native PulseChain stablecoin, though no on-chain mechanism currently pegs it to any fiat currency. Holders can verify balances and transfers on the PulseChain block explorer, and pDAI can be traded against PLS (PulseChain’s native gas token) and other PulseChain assets through PulseX. Anyone evaluating pDAI should treat it as a free-floating token rather than a stablecoin, since price stability depends on community-driven trading rather than collateral or arbitrage with off-chain reserves.