A Guide to Single-Collateral Dai (Sai) Shutdown

Hello, everyone. As many of you may already know, the Shutdown of Maker’s Single-Collateral Dai (Sai) system is an event that the community has been talking about and expecting since it was first officially discussed in the Single-Collateral Dai (SCD)-to-Multi-Collateral Dai (MCD) upgrade timeline last November.

More recently, the conversations and actions have sped up. As a result of those discussions, a Governance Poll was started on March 30, and on April 6, the final day of the poll, the community signalled its support to initiate the shutdown of the SCD system through an executive vote on April 24, 2020.

This means that between now and April 24, the community will determine the grace period before SCD is completely shut down. The details of that grace period will be shared in the Maker Forum as soon as they are available. For now, I want to share more information about what SCD Shutdown means for the Maker community and, with that, introduce a guide for Single-Collateral Dai (Sai) shutdown:

Additionally, I’d like to share some new detailed documentation for the Multi Collateral Dai Emergency Shutdown process:

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