Dharma is adding support for Dai and migrating all Sai deposits to Dai.

TL;DR

On January 16, Dharma will add support for Dai and migrate all Sai deposits to Dai. Once Dai has been added, Dharma will no longer support Sai deposits or withdrawals.

As discussed in an earlier blog post, the Dai system was upgraded on November 18, 2019. To date, Dharma has continued to support the earlier version of Dai, also known as Sai, while actively watching the Dai migration.

We have now determined that it is safe to enable Dai deposits for our users, and on January 16, Dharma will add support for Dai and migrate all Sai deposits to Dai. The migration will occur between 11:00am and 1:00pm PST. During this time, deposits and withdrawals of USD Coin and Dai will be temporarily disabled. After January 16, Dharma will no longer support Sai deposits or withdrawals.

Once the migration is complete, you will be able to deposit Dai and start earning interest immediately!

What will happen to the Sai in my Dharma account?

If you currently have Sai in your Dharma account, your Sai will be upgraded to Dai on January 16. If you do not want to migrate your Sai to Dai, please withdraw your funds before 9:00am PST on January 16.

What if I accidentally send Dai to my Dharma account before January 16?

If you accidentally send Dai to your Dharma account before January 16, your Dai will be safely stored in your Dharma Smart Wallet until the migration is complete. Once Dharma has added Dai support, your Dai deposit will appear in your Dharma account.

If you have any questions or concerns, please reach out to support@dharma.io.