Lended SAI via Compound two years ago. Now I see that SAI is pumping hard, even as a stable coin it’s worth now 12.35 USD even though it was meant to be near to 1 USD per SAI. Since the borrowing of SAI wasn’t capped to the relative USD worth but to the number of SAI I now have to pay back 12x the original value of the borrowing? Is that true or is there a work around?
On the Compound protocol your loan must be paid back in the currency you borrowed, so you must pay back the Sai you borrowed two years ago.
Sai was shut down by MakerDao almost year ago now. When it was shut down, it went from being a stable coin to a coin pegged to Ethereum. Since Ethereum has increased in value since then so has Sai.
Ok then. But how to get SAI? On Uniswap there is not enough liquidity.
Therefore resulting on uniswap to a Price Impact of 45.51%, meaning I have to pay 45.51% more ETH to get the equivalent of SAI.
If anyone knows the best solution I’ll tip, since I have to spend 9k + USD anyway. Fuk this SAI shit.
You can buy Sai at the peg price from MakerDao. Use the official website here to convert WETH to SAI with 0 slippage.