Sai SAI
Rank #626 by market cap
Last 7 days
CM Profile: Sai
Cryptominium Profile. What we have established, measured and written about SAI, and what we have not.
- Measured
- Selling $100,000 of SAI on Ethereum returned 84.3% less than the quoted price, on 20 October 2026.
- Its price, recorded by us every day since 1 October 2026.
- Written, with sources
- Not established
Read from our own records when this page was made. It describes what we know, and is not a view on whether to hold SAI. How each part is worked out
What it actually costs to sell SAI
Selling $100,000 of SAI returned 84.3% less than the quoted price — Illiquid at this size. Measured 2026-10-20 on Ethereum.
What Sai is
Sai is an ERC20 token on Ethereum, designed to track a value of $1 USD. It is created not by a company or bank but by locking ETH as collateral in a smart contract system — the collateralized debt position, or CDP — on the MakerDAO dApp. ETH is first wrapped into WETH, then pooled into PETH, which backs the CDP; Sai is drawn out as a loan against that locked collateral up to a set debt limit, and can then be spent or traded like any other ERC20 token.
The peg is maintained not by a reserve of dollars but by incentives. When Sai trades above $1, people are motivated to create and sell new Sai for a profit, increasing supply and pushing the price down. When it trades below $1, the reverse incentives apply. No central party enforces the $1 value directly — it is an equilibrium that participants are paid to maintain, which is why Sai hovers near $1 rather than holding it exactly.
Sai is not backed by dollars held anywhere; it is backed by ETH locked in smart contracts, which means its stability depends on the value and volatility of that collateral, not on a guarantee. It is not immune to failure of its peg — the mechanism described is probabilistic, driven by trader incentives, not a fixed-rate promise. It runs on a single chain, Ethereum, so it carries that chain's congestion and fee conditions as its own. It was first recorded in December 2017 and is categorized as a DeFi, Ethereum-ecosystem asset — it is infrastructure for borrowing and margin positions, not a yield-bearing or governance instrument in its own right, and using it to create debt requires managing a CDP, with the risks of liquidation that implies.
Where SAI lives
On Ethereum, Base and BNB Chain, GoPlus's analysis of each contract is read weekly: whether it has a function to block addresses or pause transfers, and whether an owner holds it. That is GoPlus's reading, not ours. Where a token exists on several chains, one copy's settings say nothing about the original coin.
Always verify a contract address against the project's own site before sending anything. Addresses are shown as published by CoinGecko, not as an endorsement — and identical-looking tokens on other chains are the most common way people lose money here.
Price change
Sai data synced 4m ago from CoinGecko. Figures shown in USD. This page is market information, not financial advice — and nothing here is a recommendation to buy or sell SAI.