Market Data & Token Stats
| Fully Diluted Valuation | $30.56M |
|---|---|
| 24H Trading Volume | $15 |
| 24H Low / High | $11.48 / $11.69 |
| Circulating Supply | 2.66M |
| Total Supply | 2.66M |
| Max Supply | 2.67M |
Market Health Signals
| Vol / MC Ratio | 0.00% Very Low |
|---|---|
| Circulating Ratio | 100.00% Very High |
Key Project Information
| Categories | Decentralized Finance (DeFi) 1 more |
|---|---|
| Founder | Rune Christensen |
| Website | makerdao.com |
| Socials | 1 more |
| Chains | Ethereum Ecosystem |
| Explorer | Arkm 2 more |
| Contracts |
0x89d....60359
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OGAudit Security Evaluation & Social Audit Metrics
OGAudit Coin Evaluation Metrics
Sai (sai) Expert User Reviews
Is Sai safe or a scam? Read verified Crypto OG reviews about Sai
$sai Markets
| Name | Pair | OG Score |
|---|
About Sai
Dai is a stablecoin on the Ethereum blockchain, created and managed by MakerDAO and the Maker Protocol. Unlike other cryptocurrencies, Dai's development isn't controlled by a single person or small group but by a decentralized organization.
Origins and Governance
MakerDAO was founded by Rune Christensen in 2015. It operates as a decentralized autonomous organization (DAO), meaning its governance token holders (MKR) propose and vote on changes to Dai's system.
Single-Collateral Dai (SAI)
The first version of Dai, called Single-Collateral Dai (SAI), launched in December 2017. SAI could only be backed by Ether (ETH). Users would deposit ETH into a smart contract to mint SAI, creating an overcollateralized loan. If the loan's value dropped too low, part of the collateral would be sold to cover the debt.
Multi-Collateral Dai (MCD)
In November 2019, MakerDAO introduced Multi-Collateral Dai (MCD). This version allows multiple types of collateral, not just ETH, providing more flexibility and risk management for users. Each type of collateral has a minimum required value to ensure stability.
Maintaining Stability
Dai maintains its value close to one USD through smart contract mechanisms. Users mint Dai by depositing accepted collateral into a contract, creating an overcollateralized loan. If the loan's value drops below the required level, some collateral is sold to repay the debt.
When a loan is repaid with interest, the Dai is destroyed, reducing the supply and helping maintain the value. MakerDAO adjusts collateral types, collateralization ratios and interest rates to control Dai's supply and value.
Governance and MKR Token
The MKR token is essential to MakerDAO. MKR holders vote on changes to the protocol, influencing important parameters. The interest paid by borrowers is used to buy and burn MKR tokens, making them deflationary over time.
Conclusion
As of February 2024, around 5.3 billion Dai are in circulation. Despite market fluctuations and new stablecoins, Dai has generally kept its value close to the USD. The shift from SAI to Multi-Collateral Dai has improved its stability and flexibility, ensuring its ongoing importance in the cryptocurrency world.
What is unique about Sai (SAI)?
Dai is unique because it is a decentralized stablecoin on the Ethereum blockchain, maintained by MakerDAO, which uses smart contracts to manage its supply and keep its value close to one USD.
Who are the founders of Sai (SAI)?
Dai was developed by MakerDAO, which was founded by Danish entrepreneur Rune Christensen in 2015.
Who are the backers/investors of Sai (SAI)?
MakerDAO, the organization behind Dai, operates as a decentralized autonomous organization (DAO), meaning it is backed and governed by the holders of its governance token, MKR.
Where can I buy Sai (SAI)?
You can buy Sai (SAI) on Uniswap V2 (Ethereum) cryptocurrency exchanges.
Information in this section carefully collected and curated from publicly available data from official sources, including the Sai Official Website, Sai GitHub Repository.
The information presented on this page is created and published by the OGAudit Editorial Team for educational and informational purposes. It should NOT be construed as an endorsement, or as legal, or investment advice. If you believe any content on this page is outdated or incorrect, please feel free to contact us for updates and corrections.
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