Dai vs PayPal USD (DAI vs PYUSD)
Dai scores 9.62 out of 10 and PayPal USD (PYUSD) 9.38 in the [stablecoins ranking](/ratings/stablecoins/), on data collected October 19, 2026, with 100% of the score measured for both. They score the same on market cap, peg and chain reach. The 0.24-point gap is age alone: Dai has run for 9.3 years, PYUSD for 3.2.
Dai scores higher: 9.62/10 against 9.38/10. It leads on 1 of 4 criteria, PayPal USD on 0.
Criterion by criterion
Same category, same weights, heaviest criterion first. Open a row for each side’s reasoning and evidence.
Scale of value trusted38% of the scoreLevelDai9PayPal USD9Why these marks ↓Hide ↑
Peg stability24% of the scoreLevelDai10PayPal USD10Why these marks ↓Hide ↑
Track record24% of the scoreDai leadsDai10PayPal USD9Why these marks ↓Hide ↑
Multi-chain reach14% of the scoreLevelDai10PayPal USD10Why these marks ↓Hide ↑
The measured comparison
| Criterion (weight) | Dai (DAI) | PayPal USD (PYUSD) |
|---|---|---|
| Scale of value trusted (38%) | 9 — $4.72B | 9 — $2.81B |
| Peg stability (24%) | 10 — 0.02% from $1.00 | 10 — 0.02% from $1.00 |
| Track record (24%) | 10 — 9.3 yr (2017) | 9 — 3.2 yr (2023) |
| Multi-chain reach (14%) | 10 — 49 chains | 10 — 19 chains |
| Score | 9.62 | 9.38 |
| % measured | 100% | 100% |
| Rank | #3 of 15 | #4 of 15 |
DefiLlama and public launch records, measured October 19, 2026, 14:39 UTC. Rules: methodology.
What explains the 0.24 gap
Track record carries 24% of the score. Dai's 2017 launch puts it at the maximum; PYUSD, launched in August 2023, scores 9. One point at 24% weight is 0.24 — the full difference.
The other criteria do not separate them:
- Size: both are in the low billions, which the log scale scores 9. Dai is larger ($4.72B vs $2.81B, PYUSD sitting exactly on the category median), but not enough to change the mark.
- Peg: identical 0.02% deviations on the collection day, Dai slightly above $1.00 and PYUSD slightly below.
- Reach: Dai is on 49 chains, PYUSD on 19; both well above the median of 8 and both score 10.
PYUSD's gap is therefore time-bound. It moves up on track record as it ages, if nothing else changes; Dai cannot gain on any criterion except market cap.
What the scores don't show
Dai and PYUSD follow different models, and the score treats them the same way:
- PYUSD is a fiat-backed stablecoin launched by PayPal. Its value rests on an issuer holding reserves and honoring redemptions.
- Dai is a crypto-collateralized design: its supply is created against on-chain collateral under protocol rules (types of stablecoins).
Neither rating covers reserve composition, attestations, collateral behavior in a crash, redemption rights, regulatory status, fees or how each token is accessed in apps. The brand behind a token is not an input. There is no CoinPulse company profile for PayPal or for Dai's issuing protocol at this time.
Which fits which reader
- Longer operating history: Dai (9.3 years).
- Larger float and broader chain coverage: Dai ($4.72B; 49 chains vs 19).
- A fiat-backed coin from a large US payments company: PYUSD's model — check its current reserve reports and the terms of the app you use.
- Collateral you can inspect on-chain: Dai's model — understand the liquidation mechanics first.
Either way, the score is not a safety rating. See how stablecoin depegs happen.
The numbers side by side
| Measured | Dai | PayPal USD |
|---|---|---|
| Market cap | $4.72B | $2.81B |
| Peg deviation | 0.02% | 0.02% |
| Track record | 9.3 yr | 3.2 yr |
| Chains | 49 | 19 |
Which to choose
Why does PayPal USD score lower than Dai?+
Only track record differs: 3.2 years scores 9, 9.3 years scores 10. At 24% weight that is the 0.24 gap.
Will PYUSD catch up?+
Track record is scored by time live, so the mark can rise as PYUSD ages. Rankings are recalculated on every collection; check the date on the PayPal USD rating.
How current is this comparison?+
Collected October 19, 2026, 14:39 UTC. Full scorecards: Dai rating · PayPal USD rating. Related: USD Coin vs Dai · PayPal USD vs Ondo US Dollar Yield · All 15 stablecoins. No affiliate links.