pDAI is the version of the DAI stablecoin that lives on the PulseChain network. If you have ever wondered what pDAI is, where it came from, or why its price is not exactly $1, this guide explains it in plain language.
Where pDAI came from
When PulseChain launched, it did so as a full fork of the Ethereum blockchain. PulseChain copied the entire state of Ethereum — every wallet balance and every token contract — onto a brand-new, independent network. DAI, the well-known Ethereum stablecoin, was copied along with everything else. That copy is what people call pDAI (PulseChain DAI).
This is the key point most people get wrong: pDAI was not bridged from Ethereum, and it is not backed 1:1 by reserves. It is an independent token on a sovereign chain, and its price is set entirely by the open market.
How pDAI differs from DAI
- Different chain. DAI runs on Ethereum; pDAI runs on PulseChain, with far lower fees.
- Different price. DAI is actively held near $1 by MakerDAO's collateral system. pDAI has no such mechanism — its price floats freely and currently trades below $1.
- Permissionless. Like everything on PulseChain, pDAI is ownerless — it cannot be frozen or confiscated.
What is "the peggening"?
Because pDAI trades below $1, the PulseChain community uses the term "the peggening" for the goal of pDAI eventually reaching $1 through market demand. It is a community aspiration, not a guarantee — pDAI can trade above or below $1 at any time. You can watch live progress toward $1 on our pDAI price page.
How to get pDAI
The most common way to get pDAI is to swap for it on a PulseChain decentralized exchange, or to bridge assets across chains. See our step-by-step bridging guide and the Get pDAI page.
Before you do anything — stay safe
pDAI, like any crypto asset, attracts scammers who build fake websites. Always use verified links and never connect your wallet to a site you reached from a search engine. Read our Stay Safe guide first.