Rank #708
sai Sai
$ 22.85
0.000333 BTC
33,303 satoshies
Market Cap
61,10 MLN. $
24 Hour Trading Vol
183.02742 $
Circulating Supply
2,67 MLN.
Total Supply
2,67 MLN.
Max Supply
2,67 MLN.
Fully Diluted Valuation
64,93 MLN. $
Low
Range
High
Info
Contract
0x89d24a6b4ccb1b6faa2625fe562bdd9a2326
0359
Website
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Search on
API id
Source code
tags
1h
24h
7d
1m
1y
max
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Sai Price Statistics
22.85 $
22.2322 $ / 25.09 $
183.02742 $
#708
61,10 MLN. $
25.31 $
-9.71%
14 May, 2021, (4 years ago)
0.9268 $
2,365.28%
10 May, 2020, (5 years ago)
Sai Top Markets
#
Exchange
Pair
Price
24h Volume
Volume
Trust Score
Sai Performance
Trading Pair
day
week
month
sai
/
usd
-3.05%
2.16%
21.61%
sai
/
btc
-3.05%
2.16%
21.61%
sai
/
eth
-3.05%
2.16%
21.61%
About Coin
Dai is a stablecoin. It is an Ethereum ERC20 token that is pegged to $1 USD — every Dai is worth $1, and will always be worth $1, regardless of how much Dai is in existence. There is no centralized authority like Tether that backs its value, and no traditional bank that backs each Dai with a real US dollar. There is nothing that can be shut down, and no centralized authority that needs to be trusted. Dai lives entirely within the Ethereum blockchain using smart contracts.
*Features of Dai:
1. Dai is always worth $1 USD each
2. It can be freely traded like any other ERC20 token
3. Anyone with an Ethereum wallet can own, accept, and transfer it
4. It can be exchanged without any middleman
5. No individual person or company has control over it
6. No government or authority can shut it down
*How Dai Works?
Dai is a masterpiece of game theory that carefully balances economic incentives in the pursuit of one goal — a token that is continuously approaching the value of $1 USD.
When Dai is worth above $1, mechanisms work to decrease the price. When Dai is worth below $1, mechanisms work to increase the price. The rational actors that take part in these mechanisms do so because they earn money anytime Dai is not perfectly worth $1. This is why Dai is always floating slightly above or below $1 — it is an endless wave function bouncing infinitely close to $1, but never quite achieving it. The farther Dai goes from $1, the more incentive there is to fix it. This is the magic of Dai.
*How is Dai Created?
Dai is simply a loan against Ethereum. By using the MakerDAO dApp, advanced users can take loans out in Dai against their ETH holdings.
First, ETH is turned into “wrapped ETH” (WETH), which is simply an ERC20 wrapping around ETH. This “tokenizes” ETH so it can be used like any other ERC20 token. Next, WETH is turned into “pooled ETH” (PETH), which means it joins a large pool of Ethereum that is the collateral for all Dai created. Once you have PETH, you can create a “collateralized debt position” (CDP), which locks up your PETH and allows you to draw Dai against your collateral, which is PETH. As you draw out Dai, the ratio of debt in the CDP increases. There is a debt limit that sets a maximum amount of Dai you can draw against your CDP. Once you have Dai, you can spend or trade it freely like any other ERC20 token.
*There are several important reasons why you would create Dai, despite the hassle:
1. You need a loan, and have an asset (ETH) to use as collateral for your loan
2. You believe ETH is going up in value. You can use your CDP to buy ETH on margin — you lock up your ETH in a CDP, draw Dai against it, use the Dai to buy more ETH on an exchange, and then use that ETH to further increase the size of your CDP. This can be accomplished without any third-party or centralized authority allowing you to do so — margin trading can be accomplished entirely on the blockchain.
3. The demand for Dai has driven the price above $1 USD. When this occurs, you can create Dai then immediately sell it on an exchange for greater than $1 USD. This is essentially free money, and is one of the mechanisms the Maker system uses to keep Dai pegged to $1 USD. Dai being worth over $1 USD encourages more Dai to be created.
These three reasons are enough to ensure that Dai is continually created.
Where is Sai available for purchase?
You can exchange SAI tokens on both decentralized and centralized crypto platforms. The favored choice for purchasing and trading Sai is Uniswap V2 (Ethereum), notably the SAI/WETH pair, which saw a trading volume of $ 4.37 in the past day.
What is the highest value Sai (SAI) has ever reached?
Sai (SAI) reached its peak price at 25.31 $ on 14 May 2021, approximately 4 years ago ago. Presently, the current price is -9.71% lower than this all-time high.
What is the historical minimum price for Sai (SAI)?
The minimum price reached for Sai (SAI) was 0.9268 $, documented on 10 May 2020, more than 5 years ago. In comparison, the current price is 2,365.28%, it above this historical low.
What is the fully diluted valuation of Sai (SAI)?
The fully diluted valuation (FDV) of Sai (SAI) stands at $ 64,93 MLN.. This figure reflects the maximum potential market capitalization, considering that the current circulating supply is at its maximum of 2,674,391.797 SAI tokens. The realization of this FDV might take several years depending on the emission schedule of SAI tokens.
How to add Sai (SAI) to MetaMask?
By integrating Sai (SAI) into MetaMask, you gain access to features like monitoring your token balances and trading on decentralized exchanges. To do this, you'll need to import SAI as a token. You can either manually import SAI by copying its contract address (0x89d24a6b4ccb1b6faa2625fe562bdd9a23260359) or use MetaMask's Chrome extension to add SAI with a single click through P.CASH.
How to add Sai (SAI) to TrustWallet?
Incorporating Sai (SAI) into your TrustWallet setup enables you to monitor your token holdings and engage in decentralized exchange transactions, among other functions. To include SAI, you can either manually import it using the contract address (0x89d24a6b4ccb1b6faa2625fe562bdd9a23260359) or conveniently add it to Trust Wallet with just one click via P.CASH if you've installed Trust Wallet's Chrome extension.
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