With the launch of Maker’s Multi-Collateral Dai upgrade earlier in the week, new users ought to note that the older version of Dai (now referred to as Sai) has been replaced by associate increased stablecoin that may support multiple collateral varieties. during this article we’ll bit on:
How to Migrate Sai to Dai
How to track migrations
Why this transition is exclusive
For those unaware of what Multi-Collateral Dai entails, we have a tendency to encourage you to see out our write-up here. In short, the new redesigned Oasis bargainer can currently function your one-stop-shop for commerce, borrowing and saving Dai.
HOW TO MIGRATE
Seeing as Sai is presently current on a large variety of applications, there ar variety of various ways that to migrate your Sai to Dai. usually speaking, we have a tendency to suggest doing it directly through Maker as this ensures all of your bases ar lined. the method is pretty straight-forward. merely head over to the migration dashboard, connect your internet three billfold that is holding Sai and among some clicks of you’ll instantly be upgraded to Dai!
It’s undoubtedly value noting that so as to upgrade to Dai, you’ll ought to certify that you simply closed unspecified CDPs that will are accruing a stability fee. As such, there’s undoubtedly a state of affairs wherever you’ll ought to purchase MKR to obtain same fees. so as to quickly purchase MKR, we have a tendency to suggest victimization Uniswap to transfer assets on to the billfold that you simply ar holding your Dai.
Beyond Maker, different applications like InstaDapp and dYdX ar incorporating their own migration bridges that may permit you to quickly swap your Sai to Dai while not having to depart the platform or shut any open positions. different platforms like Compound can still supply Sai as a complete quality, which means that users can got to lead and certify they convert their Sai if they thus select.
SAI TO DAI huntsman
Interestingly enough, an outsized quantity of Sai has still nevertheless to be born-again into Dai. because of this easy-to-visualize huntsman, we will see that at the time of writing, over 88M value of Sai still has to be born-again to Sai.