[ETH] Old Borrow for SAI token - how to solve this?

Lended SAI via Compound two years ago. Now I see that SAI is pumping hard, even as a stable coin it’s worth now 12.35 USD even though it was meant to be near to 1 USD per SAI. Since the borrowing of SAI wasn’t capped to the relative USD worth but to the number of SAI I now have to pay back 12x the original value of the borrowing? Is that true or is there a work around?

I’d be pretty fucked if I’d have to pay that amount back.

Have you seen this link?

Basically, you need to only pay back the stability fees owed before the migration. The USD value of the fees owed is all that matters, SAI’s appreciation is irrelevant.

@AstronautThis

I borrowed 600 SAI two years ago, which now amounts to over 8k USD instead of 600 USD. What can I do now? If I want to pay back the borrowed amount I have to have 600 SAI in my wallet which amounts to 8k + USD.

Man, you have a big problem, For SAI froze its price in ETH at the time of closing.

In Compund it doesn’t matter what asset you requested, for example you can deposit USDT and borrow current DAI, if DAI rises to 1.05 and breaks your collateralization you lose the backing asset.

So even though SAI’s target when it was working was 1:1 its price was frozen at the last value in ETH before closing, hence the relatively high price.

Thanks for your input guys.

Another problem is, that there isn’t enough liquidity to swap ETH to SAI, therefore resulting on uniswap to a Price Impact of 45.51%.

If anyone knows the best solution I’ll tip, since I have to spend 9k + USD anyway. Fuk this SAI shit.

Solamente en Uniswap esta la mayor liquidez de SAI.

https://info.uniswap.org/token/0x89d24a6b4ccb1b6faa2625fe562bdd9a23260359

alli puedes ver la liquidez que tienes para poder usarlo.

Have you migrated your vault using the official migration tool yet?