What is the Elliot wave principle? Elliot wave principle is an effective analysis method used by cryptocurrency traders and Mining Watchdog users, and traders fr...Read More
Prices are in USD.
|Market Cap Rank||#238|
|Price Change 24H||0.08%|
|Price Change Percentage 24H||7.75%|
|Market Cap Change 24H||$700,226.00|
|Market Cap Change Percentage 24H||7.98%|
|Circulating Supply||8,178,040 sai|
|All Time High||
March 13, 2020
|All Time Low||
May 10, 2020 -
|Explorers||https://blockchair.com/ethereum/erc-20/token/0x89d24a6b4ccb1b6faa2625fe562bdd9a23260359 , https://etherscan.io/token/0x89d24a6b4ccb1b6faa2625fe562bdd9a23260359 , https://ethplorer.io/address/0x89d24a6b4ccb1b6faa2625fe562bdd9a23260359|
|Community||https://twitter.com/MakerDAO , https://reddit.com/r/MakerDAO|
SAI coin is among the MarketDAO ecosystem's coin-list. SAI token is fully decentralized. Unlike other stablecoins such as Tether, where the company needs to have fiscal ability to back everyone in the blockchain, SAI Coin operates on Collateralized Debt Position (CDP).
There being several market niches and patterns; tokens, Blockchain-as-a-Service(BaaS) and Web3.0 developments. Interestingly, the market conquerer in the year 2019 was stablecoins. Currently, ideally, everyone must know to possess even the slightest insight on stablecoins.
Thus, a stable investment on stablecoins acts as a stepping stone into opportunistically, conniving and attacking major altcoin investments. Hence we chose to prepare this in-depth research solely for your enlightenment and clarity.
These tokens, fiat-collateralized, have become the next big thing for smart investors out here in the market. Most tend to leverage on the stable prices to eventually scramble for Bitcoin and the rest of the altcoin fraternity on optimal timing. Offering clarification on stablecoins, they tend not to keep up with volatility stretches such as other altcoins such as Bitcoin.
MakerDAO dual token ecosystem stands out from the rest. The SAI token is pegged to a $1 value. However, we need to note that the MKR token plays a vital in insurance that the $1 stays in place. This is attained by monitoring key aspects of the network in a manner that does not ripple the blockchain's normal functions. We imply that SAI is the stablecoin in the play, whereas the MKR token plays a huge role in ensuring decentralization that continuously distinguishes MakerDAO from the rest.
SAI currently holds a market cap of $12.8 million. It ranks among the top 400 and possesses a daily trading volume of $87.3. Currently priced at $2.88, available in circulation are 4,449,910. The liquidity score of the SAI coin is 1.
One of the striking similarities with Tether is that both coins are mined, collaterally-pegged, and both possess the $1 price-pegg. Lucratively, it's decentralized as the market dominates the mechanism's malleability.
The SAI token is regulated via Smart contracts adhering to the market dynamics. This guarantees that the SAI coins still retain pre-defined pegging regardless of the market's state. The SAI token is stably linked to the US dollar.
On the other hand, the MKR token possesses great freedom of price fluctuation based on the intensity of usage. A higher level of adoption leads to an increase in price, thus attainment of a higher value. One can only use MKR tokens to amassed on Collateral Debt Position (CDP) that generate the SAI token in the MakerDAO system.
MakerDAO has addressed common aspects that seem beneficial, drawing from the use of SAI tokens. These aspects include transparent accounting systems, gambling markets, financial markets and global trade.
Consented is the approval of minting of the token via Smart contracts. SAI token is backed up by some user's valuable assets contained in the Secure Maker Smart Contract platform. One can access and lock up their collateral and issue SAI tokens in exchange for them.
The SAI Coin is tethered to Ethereum. Any Ethereum custodian can generate an SAI token via the MakerDAO. One is required to deposit Ethereum to a CDP. In turn, the CDP processes, and the user receives an equivalent of SAI Coins. A CDP is a smart contract on the blockchain responsible for the issuance and redemption of SAI Coins. Yes! SAI tokens are redeemable too, Isn't that great?
Let us breakdown this process for you to demystify the acquisition journey of acquiring this stablecoin. To get issued with or redeem SAI tokens, follow the steps below;
However, if one wishes to trade SAI tokens for Ethereum, the following should repurchase with the same 100 SAI token in addition to some interest of about ~ 1%. After this, the user pays back SAI Coin, alongside the amassed interest, directed to MKR token holders for maintenance purposes and fees. From the above, it is vivid that SAI tokens act as loans taken against Ethereum.
If one intends to trade, the following exchanges are made available; HitBTC, Bitfinex, Coinhub, Coinsuper, Kyber Network, Exmo, Bangor, Radar Relay and Gate.io.
If one is SAI token holder;
The team behind SAI Coin consists of top-notch individuals and service providers. Among them include; Rune Christensen (CEO MakerDAO), Steven Becker (President and COO), Adrian LeBas (Head of Developer Experience), Amy Jung (Head of Community Development). All of the above are key executives of MakerDAO.
This team aims to fuel growth and steer the organization towards total decentralization. Several achievements, such as the introduction of Multi-Collateral DAI (MCD), are key pointers that the team behind SAI Coin still aims for greener pastures.
The team behind SAI Coins appears very cordial to skilled and experienced personnel to form a stable SAI stable coin. This openness to fresh and new developers keeps us yearning for more efficient updates in times to come.
The MakerDAO is available on most social platforms, including; Twitter, Facebook and Instagram.
More importantly, the community allows users to get in touch with them via e-mail addresses.
MakerDAO works tirelessly to brand SAI as the world's leading first unbiased currency. However, SAI Coin possesses great room for improvement. This enables the MakerDAO to ignite more creative and ingenious proposals from their developers.
However, being a stable coin, it is on top of the chart for prospective investors who wish not to succumb their crypto investments to the market dynamics. As of this, SAI Coin lies, totally up for grabs. Also, who wouldn't want to enjoy a 1:1 ratio on cryptocurrency and US dollars?
It is high time investors made savvy moves that help steer the market in the right direction.
From a wider perspective, it is commendable to have both sides of the coin at bay before settling for one.
Some of these pros include;
On the other hand, some of the pitfalls and detriments of the Coin are as follows;
We would love to wrap it up, having left you crystal clarity on SAI Coin; thus, you enjoy a streamlined experience towards amassing financial assets. Therefore, endorsements favor stablecoins, and it is in this light, in case one opts for such, SAI Coin should be among the available options.