Sai
SAI Rank #607Price chart
What is Sai?
Issuance model
The system created SAI when a user drew debt against collateral locked in a position. Repaying that debt removed the corresponding SAI obligation and allowed collateral to be released when the position remained sufficiently secured. Its intended unit of account was the US dollar, with collateral and protocol rules supporting that target. Issuance depended on borrowing activity rather than a fixed mining schedule. Stability charges increased the cost of maintaining outstanding debt. Positions below the required collateral ratio could be liquidated to cover their liabilities.
Settlement and legacy
Maker shut down the single-collateral system in May 2020. The settlement mechanism stopped normal operation and fixed the collateral price used to resolve positions. The contracts included a cash function through which tokens could be exchanged for underlying collateral under settlement rules. This is different from an issuer promising ongoing redemption for a dollar in cash. SAI remains a legacy asset of that retired system. It is separate from the later multi-collateral Dai design and from Sky's newer stablecoin products.
Where to trade SAI
1 exchanges · top 10
Live spot quotes from connected exchanges
SAI funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.