The complete Maker Protocol upgrade from Single-Collateral Dai (Sai) to Multi-Collateral Dai (Dai) will involve a series of events over time, starting with MCD Launch and completing with SCD shutdown. Maker Governance will determine the timing of the shutdown; no one can predict when it will happen.
In September, the Maker Foundation published a blog post titled How to Upgrade to Multi-Collateral Dai from Single-Collateral Dai, along with a Migration Guide. The blog post offers simple instructions for Sai and CDP holders on upgrading to MCD, as well as other important information. The Migration Guide outlines new upgrade paths and tools for ALL types of users, including exchanges, Keepers, market makers, and more.
To ensure a smooth transition from SCD to MCD for everyone, we’ve created an Upgrade Timeline, which includes actions specific community members and Maker Protocol users need to take. This table will be updated as new information becomes available. Please bookmark this page, and check back regularly.
Note: Dates indicated are expectations based on feedback from the Maker Governance community, the Maker Foundation, and exchange partners. All dates may change due to unforeseen circumstances.
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Important Notes for Sai Holders
Sai holders, please remember to:
- Check the type of token you deposit on a wallet or exchange: Does the partner wallet or exchange support both Sai and Dai, or only one of those tokens? Depositing the wrong token could lead to a temporary or permanent loss of funds.
- Review how to migrate as a Sai holder.
We Are Here to Help!
MakerDAO’s mission is to shape the future of commerce on the blockchain. To learn more about Multi-Collateral Dai, read these MCD-related blog posts. To best prepare for MCD, read What to Expect With the Launch of Multi-Collateral Dai. Finally, if you have any questions about upgrading from Sai to Dai, reach out to us anytime on the Maker Forum.