0x8f3Cf7ad...39c6A063Cycle Potential
1x
vs. bull target
Probability
95%
Success chance
Risk Level
4/10
Medium Risk
Market Cap
$630.53M
Volume
$20.15M
Polygon PoS Bridged DAI is the cross-chain representation of Sky Protocol's (formerly MakerDAO) decentralized stablecoin, locked 1:1 in the Polygon PoS bridge on Ethereum mainnet. As of January 30, 2026, the token maintains $641.89M onchain market cap with 2,607,707 holders and 642.24M circulating supply on Polygon, ranking 129 by global market cap. The underlying DAI stablecoin demonstrates exceptional peg stability at $0.99987 with $64.04M daily trading volume, backed by diversified collateralization including $948M (14% of reserves) in tokenized real-world assets. Parent protocol Sky commands $5.36B global DAI market cap and $17.4B total value locked, with RWA-backed collateral representing $263.3M in value and generating 10.9% of protocol revenue ($35.7M over 14 months). Following February 2025 Aave governance vote (692K to 117K), Aave essentially halted lending on Polygon by setting bridged stablecoin LTV to 0%, triggering $300M+ TVL exodus. Cross-chain bridge security remains the primary concern, with over $2.8B lost to bridge hacks representing 40% of all Web3 exploits through 2026.
Within Polygon's stablecoin ecosystem as of January 30, 2026, DAI maintains $641.89M market cap with 2,607,707 holders, ranking 129 globally. The February 2025 Aave exit fundamentally altered competitive dynamics when governance voted 692K to 117K to essentially halt lending services by setting 0% LTV on all bridged stablecoins, triggering $300M+ TVL exodus (representing 40% of Polygon TVL) and reducing DAI to DEX trading and basic transfers. While DAI retains decentralization advantages (no freeze capabilities) versus centralized USDC and USDT alternatives, reduced functionality limits appeal in a DeFi landscape increasingly favoring native deployments. Cross-chain bridges continue accounting for 40% of Web3 exploits with $2.8B+ losses through 2026, driving institutional preference toward canonical stablecoins. Globally, Sky Protocol's DAI maintains $5.36B market cap and $17.4B TVL with growing RWA integration ($948M reserves, $263.3M RWA value generating 10.9% of revenue), plus January 2026 $500M Tokenization Regatta expanding Solana presence. Q1 2026 marks Aave V4 Hub-and-Spoke architecture launch and Sky Savings Rate growth to $4B TVL (60% increase in 30 days), strengthening parent protocol fundamentals despite bridged version limitations.
Score: 72/100 | Upside: 1x
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View MethodologyDisclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always do your own research before making investment decisions. Cryptocurrency investments are volatile and carry significant risk.
Polygon PoS Bridged DAI delivers proven decentralized stablecoin utility backed by Sky Protocol's $5.36B global infrastructure, $17.4B TVL, and 8+ year operational track record maintaining $0.99987 peg stability as of January 30, 2026. The $641.89M Polygon deployment with 2,607,707 holders (ranking 129 globally) provides adequate liquidity for DEX trading with $64.04M daily volume. However, users must weigh significantly elevated bridge risk (40% of Web3 exploits, $2.8B+ losses through 2026) and severely diminished DeFi utility following February 2025 Aave governance vote (692K to 117K) that essentially halted lending services by setting 0% LTV on bridged stablecoins, triggering $300M+ TVL exodus. Best suited for participants prioritizing censorship resistance and decentralization over yield opportunities, understanding the fundamental trade-offs between bridged stablecoin convenience and native deployment security in an ecosystem increasingly favoring canonical stablecoins.
$0.9997
