### What is Sai (SAI)?

Sai (SAI) is a decentralised stablecoin created by MakerDAO, designed to maintain a stable value relative to the US Dollar. It achieves this stability through a system of Collateralized Debt Positions (CDPs) and autonomous feedback mechanisms, providing a decentralised alternative to traditional stablecoins.

### How does Sai (SAI) work?

Sai operates on the **Ethereum blockchain**, using smart contracts to manage its core functionality. Key elements include:  
- **Collateralized Debt Positions (CDPs)**: Users deposit collateral (such as Ether) to mint Sai tokens, with the system automatically adjusting to maintain stability.  
- **Autonomous Feedback Mechanisms**: Algorithms ensure Sai’s value remains pegged to the US Dollar.  
- **Dual Token System**: Utilises MKR for governance and stability fees, alongside Sai for transactions.  

This structure allows Sai to function as a fully decentralised stablecoin, eliminating reliance on centralised issuers.

### What are the potential use cases for Sai (SAI)?

Sai provides utility across various applications and industries, including:  
- **Medium of Exchange**: Used for transactions in decentralised applications.  
- **Store of Value**: Acts as a stable asset in volatile crypto markets.  
- **Collateral**: Backing for decentralised lending platforms.  
- **Cross-Border Payments**: Facilitates low-cost international remittances.  
- **Hedging**: Protects against cryptocurrency volatility.  

Key industries include DeFi, e-commerce, trading, and blockchain-based gaming.

### What is the history of Sai (SAI)?

Sai was developed by MakerDAO, a pioneering organisation in decentralised finance, to address the need for a stable, decentralised cryptocurrency.

#### Significant Milestones:
- **2015**: Conceptualisation of a dual-token stablecoin ecosystem.  
- **Late 2017**: Launch of SAI and MKR tokens.  
- **2018**: Full launch of the MakerDAO platform.  
- **Adoption**: Sai reached a market capitalisation of over $1 billion.  

#### Evolution:
Sai was a groundbreaking project that became one of the first widely adopted decentralised stablecoins in the DeFi space. Its success paved the way for partnerships with projects like OmiseGO and Request Network. However, Sai was eventually replaced by **Dai**, a multi-collateral version that expanded on Sai’s original concept to support a broader range of assets.


Deposits are not currently available for this coin.

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