Single Collateral DAI price is $1.29
The current trading price for Single Collateral DAI (SAI) is $ 1.29.
Single Collateral DAI, commonly referred to as SAI, is a stablecoin cryptocurrency developed by MakerDAO. It was designed to maintain a steady value and is not subject to the price volatility seen in many other cryptocurrencies. SAI is pegged on a 1:1 basis with the US dollar, meaning one SAI is supposed to always be equivalent to one US dollar.
SAI's unique aspect is its collateralization, which uses just a single type of asset (Ethereum) to secure and maintain the value of the coin. This differentiates it from its successor, the Multi Collateral DAI, which uses multiple types of assets as collateral.
Single Collateral DAI (SAI) was created by the MakerDAO community, with the Maker Foundation playing a significant role in the development and launching of the coin. The foundation was set up to oversee the initial stages of the MakerDAO project, including the creation of SAI.
SAI operates through the MakerDAO system, where Ethereum is used as collateral to create SAI coins. When a user deposits Ethereum into the MakerDAO system, it gets locked up in a collateralized debt position (CDP). The user can then create a certain amount of SAI stablecoins depending on the amount of Ethereum that they have deposited.
The operation of SAI follows a set of rules implemented on the MakerDAO system to maintain its value at 1 SAI = 1 USD. If the price of SAI falls below 1 USD, the coined protocol works contractually to decrease the supply of SAI, bringing the price back up. On the other hand, if the price of SAI goes above 1 USD, the protocol increases its supply to bring down the price.
What sets SAI apart is its single type of asset collateralization, and the fact that it's a stablecoin. Its design enables it to maintain a steady value, which is unlike most cryptocurrencies that often experience significant price volatility. This stability has led to its wide usage in various Defi platforms.
There are currently 6.7M SAI coins in circulation.
You can purchase SAI on the following exchanges: CEX.io, Huobi, EXMO, Korbit.
SAI currently holds the ranking of #1 in market capitalization.
Like many other cryptocurrencies, Single Collateral DAI operates on the Ethereum blockchain, meaning its security depends largely on the Ethereum Network's security protocols. The collateral of the system is also used as an added layer of security. If the value of the collateral falls to a certain level, the system automatically liquidates it to ensure that the value of SAI stays stable.
Merlin's Seal USDT
DeMR
TAOlie Coin
SolBlock AI
Hemis
BITBEDR
QUBY AI
DOGWIF2.0
Live Prices, Widgets, Alerts, Portfolio, Apple Watch app
