Ways to Upgrading Sai to Dai on Compound

With the launch of Maker’s Multi-Collateral Dai upgrade earlier on, new users ought to note that the older version of Dai (now known as Sai) has been replaced by associate increased stablecoin that may support multiple collateral sorts. 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 tend to encourage you to visualize out our write-up here. In short, the fresh redesigned Oasis dealer can currently function your one-stop-shop for mercantilism, borrowing and saving Dai.

Seeing as Sai is presently current on a good variety of applications, there square measure variety of various ways in which to migrate your Sai to Dai. typically speaking, we tend to suggest doing it directly through Maker as this ensures all of your bases square measure coated. the method is pretty straight-forward. merely head over to the migration dashboard, connect your internet three pocketbook that is holding Sai and at intervals a couple of clicks of you’ll instantly be upgraded to Dai!

It’s undoubtedly price noting that so as to upgrade to Dai, you’ll have to be compelled to check that that you just closed unspecified CDPs that will are accruing a stability fee. As such, there’s undoubtedly a scenario wherever you’ll have to be compelled to purchase MKR to get hold of aforesaid fees. so as to quickly purchase MKR, we tend to suggest victimisation Uniswap to transfer assets on to the pocketbook that you just square measure holding your Dai.

Beyond Maker, alternative applications like InstaDapp and dYdX square measure incorporating their own migration bridges which will permit you to quickly swap your Sai to Dai while not having to go away the platform or shut any open positions. alternative platforms like Compound can still supply Sai as a complete quality, that means that users can need to take hold and check that they convert their Sai if they thus opt for.

SAI TO DAI hunter
Interestingly enough, an oversized quantity of Sai has still nevertheless to be reborn into Dai. because of this easy-to-visualize hunter, we are able to see that at the time of writing, over 88M price of Sai still must be reborn to Sai.

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