MultiCollateral Dai Upgrade
How we’ve handled moving from Sai → Dai
tl;dr Connext now uses multi collateral Dai by default! We expect users to make the upgrade themselves outside of Connext.
Connext V2
The v2 Connext hub now collateralizes all transactions in mcDai by default. This means that the hub will expect that users will deposit the new Dai when transacting and your Dai Card will automatically swap to the new Dai instead of (legacy) Sai.
If you are a user with Sai in your channel, have no fear! When you open your Dai Card (or recover your channel address to it), you’ll see the following screen to help you withdraw your Sai.
Simply enter an address to withdraw your Sai to, and click the button. After withdrawal, your Daicard will be usable again.
Any new ETH deposits into the channel will be converted to Dai, and deposited Dai will add to your balance.
Connext V1
V1 of Connext will continue to run on Sai until it is shut down. This means that developers and applications currently using v1 can bundle migrating user channels to Dai with their upgrade to v2.
If you have any questions, get in touch with us by:
And lastly, please share this with your friends in the ecosystem if you find it interesting. We can’t wait to help enable instant, low cost Ethereum transactions in wallets, browsers, and applications.
Thanks for your support,
Team Connext
