fear & greed index deep in the red; 5!. btc dumping again, panic sells everywhere.
zero fs given. pdai still pennies but the peg thesis is math. overcollateralized → pause mint → $1 snap. just time + stubborn holders. btc noise fades. pdai glow-up incoming. stay grinding.
Posted on February 23, 2026
DAI on PulseChain (often called pDAI or PulseChain DAI) is a token on the PulseChain blockchain that originated as a forked copy of the original MakerDAO DAI stablecoin from Ethereum.
PulseChain is an Ethereum fork created by Richard Heart (known for HEX), launched in 2023 as a faster, cheaper, fee-burning alternative with proof-of-stake mechanics. At launch, it included a massive airdrop/copy of many Ethereum tokens to PulseChain addresses (a "sacrifice" mechanism funded it), including a direct copy of the DAI smart contract and balances.
It's the same as Ethereum's DAI: 0x6b175474e89094c44da98b954eedeac495271d0f (but on PulseChain chain ID 369).
It started as an experimental forked token with zero intrinsic backing or peg mechanism at launch. The community and promoters position it as a potential native decentralized stablecoin for the PulseChain ecosystem.
Unlike real DAI (which maintains ~$1 via over-collateralized vaults and liquidations on MakerDAO), pDAI is not pegged to $1. It trades freely on PulseChain DEXes (mainly PulseX) and has fluctuated significantly.
As of February 23, 2026: ~$0.001 (around 0.1 cents), with a market cap of roughly $44–47 million and circulating supply of ~44.37 billion tokens.
All-time high was around $0.03 (late 2024), but it's far from $1 and has been volatile/low for a long time.
Some promoters/market materials call it "the only stablecoin with legal precedent outside US/SEC jurisdiction," "unconfiscatable," and tied to PulseChain's decentralization (e.g., large validator set). These are marketing angles emphasizing PulseChain's censorship resistance, but pDAI itself lacks active over-collateralized minting like MakerDAO's system.
Primarily on decentralized exchanges like PulseX V2, with 24h volume in the low hundreds of thousands USD. It's speculative — many view it as a high-risk bet on PulseChain growth potentially pushing it toward a peg someday (though no strong mechanism enforces that currently).
Extremely high volatility, low liquidity compared to real stablecoins, potential for rugs/manipulation in smaller chains, and it's not redeemable/backed like official DAI. It's more of a memecoin/speculative asset in practice than a functional stablecoin.
If you're considering interacting with it (swapping, holding, etc.), use a PulseChain-compatible wallet (e.g., MetaMask with RPC https://rpc.pulsechain.com), but you might prefer the pulsechain-native InternetMoney wallet https://internetmoney.io Remember kids, treat it as high-risk crypto gambling rather than a stable dollar equivalent. For actual stable value on PulseChain, users often bridge real assets or use wrapped versions instead.