cDAI
CDAI
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Compound Dai (cDAI) is the legacy interest-bearing cToken for DAI issued under Compound V2 on Ethereum. The project exhibits significant data gaps in Tokenomics and Team & Governance, where insufficient token-specific data was retrieved, leading both sections to be excluded from the weighted score calculation. cDAI scores poorly in Active Development (2.0/10) and Community Support (2.0/10), reflecting its dormant, maintenance-only status and the absence of a dedicated community. Market and Use Case scores low (2.5/10) due to legacy status, being largely superseded by newer protocol versions, and near-zero daily trading liquidity ($0 to $24) on a sub-$10M market cap. Conversely, Security and Audit History scores relatively well (7.0/10) anchored by a CertiK Skynet score of 81.24 and an absence of direct smart contract exploits or honeypot mechanics (the historical November 2020 Pickle Finance exploit occurred in a third-party wrapper rather than the cDAI contract itself). Overall, cDAI is an obsolete DeFi receipt token with negligible trading activity.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About cDAI (CDAI)
Compound Dai (cDAI) is a legacy interest-bearing receipt token issued by Compound Protocol V2 on the Ethereum blockchain that has been largely superseded by newer protocol versions. When users deposit DAI into Compound's original lending markets, the protocol mints cDAI to represent the depositor's underlying balance. Rather than operating as a pegged stablecoin, the value of cDAI accrues over time based on the interest generated by DAI borrowers within the Compound V2 system.
The token currently operates in a maintenance-only posture with no active technical development, new governance proposals, or dedicated token-level community channels. Market data indicates diminished activity and liquidity, with 24-hour trading volumes near zero (ranging between $0.00 and $23.77) and an on-chain market capitalization of approximately $7.75 million to $7.77 million across roughly 15,400 holders.
From a security perspective, automated code scans report no honeypot mechanisms or transaction taxes, though contract ownership remains unrenounced and token distribution shows holder concentration, with top holders accounting for 64.14% excluding exchange and locked addresses. While the cDAI smart contract itself has not suffered a direct exploit, third-party protocols integrating the asset have experienced losses; notably, on November 22, 2020, an exploit in Pickle Finance's vault implementation resulted in the theft of 19.7 million DAI from its cDAI strategy.