Hi!
I have borrowed some SAI about 1 year ago. Now my debt is doubled (in USD)! How could it be possible? Did SAI isn’t the old version of DAI? Is it no more a stable coin? How it works?
How can I resolve this situation?
Thank you very much for your support!
SAI was shutdown after the newer version was released. When SAI shutdown, it became pegged to the price of ethereum meaning 1 SAI = $1 of ethereum at shutdown. The price of Ethereum has over doubled since shutdown so SAI is now worth over $2.
Thank you for your answer! Now I think what is the best way to repay the debt in SAI…Have you some tips?
SAI liquidity has fallen since its shutdown. You are able to mint SAI from WETH using this contract: https://etherscan.io/address/0xbda109309f9fafa6dd6a9cb9f1df4085b27ee8ef#code. The mock function mints the given number of SAI. Make sure to approve the contract to withdraw your WETH first.
This address went through the process of minting SAI and repaying Compound for reference.
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