How to Upgrade Your DAI

Swap SAI to DAI in a couple of clicks with Totle Swap

DAI, a decentralized stablecoin with a value pegged to the US dollar, is one of the most popular stablecoins on the cryptocurrency market.

Now, DAI is getting an upgrade.

DAI was originally backed solely by a self-adjusting quantity of Ether, which made its stability dependent on the price of ETH. A recent update, launched on November 18th, 2019, changed DAI’s collateralization structure to a self-adjusting amalgamation of multiple assets. This new DAI has been called multi-collateral DAI but the asset will be retaining its original name, DAI.

Old DAI, single collateral DAI, will now have its name changed to SAI. To upgrade your old DAI (SAI) you will need to swap it for new DAI (DAI).

How to Upgrade your DAI

In your wallet, you will find that the DAI you held prior to November 18th is now called SAI. To upgrade your SAI to DAI, you can use Totle Swap to exchange SAI directly for DAI in a couple of clicks.

Here is a step-by-step walkthrough of how to upgrade your SAI to DAI:

Step One

Click on this link: Totle Swap

Step Two

Select your wallet from one of the six options available on Totle Swap and follow the short connection process. If you do not have one of the wallets listed, visit us at Totle Support and send us a message for additional guidance.

This will bring you to the Totle Swap dashboard.

Step Three

Click the “This” button and select SAI from the list of cryptocurrencies.

Step Four

Click the “That” button and select DAI from the list of cryptocurrencies.

Step Five

Input the amount of SAI you would like to update to DAI. Review the trade details and click the “Find Best Rate” button.

Step Six

Next, approve the transaction by pressing the “Swap” button.

You will also need to approve the transaction from inside your wallet. In this example, I will be approving the transaction from within my MetaMask wallet.

Review

Once your transaction has been successfully completed, this image will appear on your screen.

Your SAI is now converted to DAI and you have successfully updated your DAI!

Upgrade Your DAI Now

Easily upgrade your SAI to DAI with Totle: Totle Swap

To build SAI to DAI swaps into your product, access the Totle API here: Totle Dev Portal

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