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Record sog_st_sai

SAISingle-Collateral Dai

Also recorded as SAI, Sai, Single-Collateral Dai, SCD

Migrated

Lifecycle: Migrated
Issuance: Terminated
Reference target: US dollar
Primary organization: MakerDAO / SkyNo additional recorded relationship
Launch: 2017-12-18
Redemption: Conversion
Backing: Crypto-collateralized
Stabilization: Overcollateralized vault
Last review: 2026-06-14
Evidence: 3 source records

Reviewed assessment

Identity and current state

This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.

MakerDAO's original single-collateral stablecoin, issued against ETH and later renamed SAI when Multi-Collateral Dai launched. New issuance ended and users were directed toward migration or settlement paths.

Name	Single-Collateral Dai
Symbol	SAI
Aliases	SAI, Sai, Single-Collateral Dai, SCD
Asset class	Stablecoin
Lifecycle status	Migrated
Issuance status	Terminated
Canonical record ID	`sog_st_sai`
Route slug	`sai`
Record confidence	High
Last reviewed	2026-06-14

Name: Single-Collateral Dai
Symbol: SAI
Aliases: SAI, Sai, Single-Collateral Dai, SCD
Asset class: Stablecoin
Lifecycle status: Migrated
Issuance status: Terminated
Canonical record ID: sog_st_sai
Route slug: sai
Record confidence: High
Last reviewed: 2026-06-14

Record coverage

Section	Entries
Organizations	1
Sources	3
Reserve reports	0
Reserve components	1
Model-history events	1
Regulatory notes	0
Deployments	1
Issuer-control actions	0
Open questions	2
Events	1

Organizations and control

Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.

Governance: DAO Governed
Primary display organization: MakerDAO / Sky
Primary display role: Protocol operator
Display selection mode: Deterministic Policy
Current relationships: 0
Ended relationships: 1
Unknown relationship state: 0
Freeze capability: 0 recorded yes · 0 recorded no · 1 not recorded
Blacklist capability: 0 recorded yes · 0 recorded no · 1 not recorded
Deployment control-event references: 0
Observed issuer-control events: 0
Relationship coverage: 1 recorded relationship

All current, ended, and unknown-state organization relationships
Organization	Organization category	Regulatory character	Jurisdiction	Role	Display priority	From	Until	Relationship status
MakerDAO / Sky	Protocol or software system	Protocol or decentralized system	Unknown or not publicly resolved	Protocol operator	Primary display	2017-12-18	2019-11-18	Ended relationship

Protocol or software system

MakerDAO / Sky

Primary display

Functional role: Protocol operator
Relationship status: Ended relationship
Regulatory character: Protocol or decentralized system
Jurisdiction: Unknown or not publicly resolved
From: 2017-12-18
Until: 2019-11-18

Mechanism

How the asset works

Reference, backing, stabilization, exit, valuation, and yield remain separate facts.

Reference target: US dollar
Reference kind: Fiat
Comparison category: US dollar
Target value: 1
Reference methodology: SAI targeted one U.S. dollar through ETH-backed Single-Collateral Dai vaults before migration to Multi-Collateral Dai.
Public backing model: Crypto-collateralized
Canonical backing types: Crypto Collateral
Reserve component categories: Crypto Collateral
Primary stabilization mechanism: Overcollateralized vault
Recorded model description: Single Collateral Eth Overcollateralized
Redemption / exit model: Conversion
Valuation source: Historical MakerDAO Single-Collateral Dai contracts and migration system
Yield / rebase profile: No recorded change · Accrual: No recorded change
Classification notes: Historical predecessor asset migrated to Multi-Collateral Dai. SAI and current DAI are separate canonical identities.

Reserve and redemption

Recorded components, disclosures, reports, and redemption conditions remain explicit.

Reserve components

Crypto collateralCrypto Collateral

Reserve profile

Disclosure status	Protocol Transparent Historical
Backing types	Crypto Collateral
Summary	Single-Collateral Dai was issued against ETH collateral through MakerDAO's original CDP system. The historical collateral and debt state was visible through Ethereum contracts rather than an issuer reserve account.
As of	2019-11-18
Profile confidence	High

Disclosure status: Protocol Transparent Historical
Backing types: Crypto Collateral
Summary: Single-Collateral Dai was issued against ETH collateral through MakerDAO's original CDP system. The historical collateral and debt state was visible through Ethereum contracts rather than an issuer reserve account.
As of: 2019-11-18
Profile confidence: High

Redemption profile

Current status	Terminated
Settlement asset	Migration into Multi-Collateral Dai or historical shutdown-settlement collateral
Eligible parties	Holders interacting with remaining migration or shutdown contracts, subject to contract state and Ethereum access.
Retail access	Historical Contract Only
Institutional access	Historical Contract Only
Minimum amount	Contract and gas dependent.
Fee	Ethereum gas and any contract-specific settlement effects apply.
Settlement time	Ethereum transaction dependent.
Regional limits	Access depends on remaining Ethereum contracts and interfaces. SAI is not the current DAI token.

Current status: Terminated
Settlement asset: Migration into Multi-Collateral Dai or historical shutdown-settlement collateral
Eligible parties: Holders interacting with remaining migration or shutdown contracts, subject to contract state and Ethereum access.
Retail access: Historical Contract Only
Institutional access: Historical Contract Only
Minimum amount: Contract and gas dependent.
Fee: Ethereum gas and any contract-specific settlement effects apply.
Settlement time: Ethereum transaction dependent.
Regional limits: Access depends on remaining Ethereum contracts and interfaces. SAI is not the current DAI token.

Reserve and attestation history

Date	Publisher	Type	Assets covered	Record confidence
No reserve reports have been added yet.

No reserve reports have been added yet.

Deployments and legal context

Network state, contract identity, legal notices, and value states remain separate.

Blockchain deployments

Network	Network record state	Standard	Public deployment category	Canonical deployment type	Operational state	Recorded status	Change or proposal state	Canonicality	Canonicality record state	Verification state	Contract identity state	Contract or identifier	Freeze	Blacklist	Control events	Notes
Ethereum	Specific network recorded	Not yet recorded	Historical or legacy deployment	Historical Canonical Issuance	Migrated	Migrated	Migration recorded	Legacy deployment	Canonicality recorded	Identifier recorded; verification not recorded	Identifier recorded	0x89d24A6b4CcB1B6fAA2625fE562bDD9a23260359	Not yet recorded	Not yet recorded	0	Historical SAI token contract. Current DAI uses a different canonical token and system.

Regulatory and official notices

Date	Title	Authority / publisher	Type	Summary
No regulatory notes have been added yet.

No regulatory notes have been added yet.

Evidence

Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.

3 source identities · 3 evidence relations
Source	Publisher	Source category	Provenance	Primary or secondary	Supported claims	Archive	Reliability
Multi-Collateral Dai is live Published 2019-11-18	MakerDAO	Official statement or announcement Canonical: Official Statement	Subject-controlled source	Primary source	Migration Event, Launch Date, Identity Transition	Archive index or wildcard	High
Single-Collateral Dai to Multi-Collateral Dai migration documentation Published Not yet recorded	MakerDAO Documentation	Official documentation or product page Canonical: Official Documentation	Subject-controlled source	Primary source	Migration Mechanics, Redemption Exit, Identity Transition	Archive index or wildcard	High
SAI token contract on Ethereum Published Not yet recorded	Etherscan	On-chain record or explorer Canonical: Onchain Contract	Technical primary source	Primary source	Contract Identity, Ethereum Deployment	No archive recorded	High

Known unknowns

Known unknowns and coverage

Missing or disputed facts remain visible instead of being converted into certainty.

Open questions

Topic	What remains unclear	Value state	Priority	Last checked
Remaining Migration and Settlement State	The exact amount of SAI still outstanding and the current usability of every migration or shutdown-settlement contract were not fully verified in this review.	Unknown after review	Medium	2026-06-14
Final Supply and Residual Holders	Residual SAI supply, holder distribution, and final settlement outcomes require direct on-chain analysis.	Unknown after review	Low	2026-06-14

Remaining Migration and Settlement State

The exact amount of SAI still outstanding and the current usability of every migration or shutdown-settlement contract were not fully verified in this review.

Value state: Unknown after review
Priority: Medium
Last checked: 2026-06-14

Final Supply and Residual Holders

Residual SAI supply, holder distribution, and final settlement outcomes require direct on-chain analysis.

Value state: Unknown after review
Priority: Low
Last checked: 2026-06-14

Lifecycle

History

Current classification remains separate from dated changes and incidents.

Model and lifecycle changes

2019-11-18Single-Collateral Dai becomes SAI during the Multi-Collateral Dai launchMigration

Event timeline

Date	Event	Category	Subtype	Status effect	Recovery
2019-11-18	Single-Collateral Dai becomes SAI during the Multi-Collateral Dai launch	Migration and rebrand	Migration	Migrated	Not applicable

Related records and corrections

Corrections and further reading

Open connected records, methodology, machine-readable data, or report a correction.