Sai

Sai (SAI) is an early version of a decentralized stablecoin that lives on the Ethereum blockchain and was designed to maintain a value of one US dollar at all times. It was created for anyone who wants the price stability of a dollar-denominated asset without relying on a traditional bank or a centralized issuer to hold matching dollar reserves. The problem it addresses is the volatility common to most cryptocurrencies, making it usable for payments, savings, or as a stable medium of exchange within decentralized applications.

Sai is an ERC-20 token on Ethereum, meaning all of its logic runs through smart contracts on that network rather than on its own blockchain, which is why it has no consensus algorithm of its own and its block time in the data is recorded as zero. Users originally created Sai by locking Ethereum-based collateral into a smart contract called a Collateralized Debt Position; the peg was maintained through a set of algorithmic incentives that pushed the price back toward one dollar whenever it drifted above or below that target. This version of the stablecoin has since been superseded by a multi-collateral successor, and the circulating supply of approximately 2,652,729 SAI reflects what remains outstanding from that earlier system.

The data stored for Sai includes no fee stream, meaning there is no recorded revenue that flows to token holders or to a protocol treasury from the use of SAI itself. Because no fee data is present, fee-based measures such as price-to-fees or revenue multiples are not applicable to this asset on this site. The 24-hour turnover ratio of 0.000215, measured over a single day, indicates that trading activity relative to the total market capitalization of approximately 34,984,250 US dollars is very low.