About Single Collateral DAI
Sai (Single Collateral DAI) is a USD-pegged stablecoin built on the Ethereum blockchain, and has no centralized authority. The $1 USD equivalent is maintained through automatic pricing mechanisms built into smart contracts. When Sai is worth more than $1, the smart contract pricing mechanisms works to decrease the price. Conversely, when Sai is worth below $1, the smart contract pricing mechanisms works to increase the price. Sai can be freely traded like any other ERC20 token, and anyone with an Ethereum wallet can own, accept, and transfer it without a middleman.