Robo-Advisor for Yield (RAY) Launches Support for Multi-Collateral Dai & Dai Savings Rate
Multi-Collateral Dai (Dai) went live on November 18th, 2019, introducing additional collateral types and the Dai Savings Rate to the MakerDAO protocol.
The purpose of this post is to inform owners of Sai RAYs about the Robo-Advisor for Yield’s support for Multi-Collateral Dai and Dai Savings Rate, as well as how to upgrade. This post is also relevant to anyone who holds Dai currently that wants to deposit into RAY.
Note: We refer to Multi-Collateral Dai as Dai and Single-Collateral Dai as Sai.
What is changing?
Staked has introduced support for Dai for the Compound, bZx, dYdX, and Dai Savings Rate opportunities.
How can I convert my SAI RAY to a DAI RAY?
Staked has built a bridge that lets users convert Sai RAYs to Dai RAYs. The bridge is intended to save users gas costs, time, and effort. Below are detailed instructions and screenshots outlining the conversion process.
- Navigate to the Robo-Advisor for Yield (RAY) section of the Staked website.
2. Select the “Manage Existing RAY” button.
3. Select the “Convert to DAI” button.
4. Customize the opportunity set for consideration and select the “Convert SAI” button.
Congrats! You have now upgraded your Sai RAY to a Dai RAY.
Have questions? Find time to speak with an Account Manager here or by sending an email to cole@staked.us.
Thank you for the continued support!
About Staked
Staked helps institutional investors reliably and securely compound their crypto by 5% — 100% annually through staking and lending. Staked runs validation nodes for proof-of-stake currencies and offers access to on- and off-chain lending options that provide an annualized yield of in-kind currency. Staked’s investors include Pantera Capital, Digital Currency Group, ParaFi Capital, Coinbase Ventures, Winklevoss Capital, Fabric Ventures, Global Brain, and other leading crypto investors.
