Sai

SAI Price

About Dai

Dai is a stablecoin, an Ethereum ERC20 token pegged to $1 USD. Every Dai is worth $1 and will always be worth $1, regardless of its existence. There is no centralized authority or traditional bank backing its value. Dai lives entirely within the Ethereum blockchain using smart contracts.

Features of Dai

Dai is always worth $1 USD, can be freely traded like any other ERC20 token, and can be owned, accepted, and transferred by anyone with an Ethereum wallet. It can be exchanged without a middleman, and no individual or company has control over it. Additionally, no government or authority can shut it down.

How Dai Works

Dai is a token that continuously approaches the value of $1 USD through game theory, balancing economic incentives. When Dai is worth above $1, mechanisms decrease the price, and when it's worth below $1, mechanisms increase the price. Rational actors participate in these mechanisms to earn money when Dai is not perfectly worth $1, causing it to float slightly above or below $1.

How Dai is Created

Dai is created by taking a loan against Ethereum using the MakerDAO dApp. Users can turn their ETH into "wrapped ETH" (WETH), then into "pooled ETH" (PETH), which is used as collateral for created Dai. A "collateralized debt position" (CDP) is then created, allowing users to draw Dai against their PETH collateral. The ratio of debt in the CDP increases as Dai is drawn, with a debt limit setting a maximum amount of Dai that can be drawn.

Purpose of Creating Dai

Creating Dai is useful for several reasons: needing a loan with ETH as collateral, believing ETH will increase in value and using a CDP to buy ETH on margin, or taking advantage of Dai's price being above $1 USD. When Dai's price exceeds $1 USD, creating and selling it on an exchange can generate profit, encouraging more Dai creation to keep its value pegged to $1 USD.

Where can you buy Sai?

SAI tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Sai is Uniswap V2 (Ethereum), where the most active trading pair SAI/WETH has a trading volume of $28.20 in the last 24 hours.

What is the daily trading volume of Sai (SAI)?

The trading volume of Sai (SAI) is $28.20 in the last 24 hours, representing a -66.30% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Sai (SAI)?

Sai (SAI) reached an all-time high of $25.84 and an all-time low of $0.9269. It’s now trading -52.40% below that peak and 1,227.70% above its lowest price.

What is the market cap of Sai (SAI)?

Market capitalization of Sai (SAI) is $32,631,917 and is ranked #604 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of SAI tokens (2.7 Million tokens are tradable on the market today).

What is the fully diluted valuation of Sai (SAI)?

The fully diluted valuation (FDV) of Sai (SAI) is $32,631,917. This is a statistical representation of the maximum market cap, assuming the maximum number of 2.7 Million SAI tokens are in circulation today. Depending on how the emission schedule of SAI tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Sai compare against its peers?

With a price decline of -3.20% in the last 7 days, Sai (SAI) is underperforming the global cryptocurrency market which is down -2.10%, while outperforming when compared to similar Decentralized Finance (DeFi) cryptocurrencies which are down -5.20%.

How to add Sai (SAI) to MetaMask?

Adding Sai (SAI) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import SAI as a token. You can copy SAI’s contract address (0x89d24a6b4ccb1b6faa2625fe562bdd9a23260359) and import it manually, or if you've installed MetaMask's chrome extension, add SAI to MetaMask with one click on CoinGecko.

Add SAI to MetaMask.