In December 2019, the MakerDAO community completed the upgrade from DAI Stablecoin v1.0 (now known as SAI) to Multi-Collateral DAI (now known as DAI).

If you are currently holding SAI in your crypto wallet, be sure to upgrade to the new DAI using Maker's migration portal.

The process takes less than 5 minutes and will require you to sign two transactions. The first transaction authorizes SAI to be accessed by a smart contract, and the second transaction swaps your SAI to DAI.

Once the process is complete, you will have 3 different entries in Gilded:

The last transaction for 0.00 ETH shows the gas spent during the first authorization step of the migration. Gilded correctly categorized this an expense and there is nothing further you need to do.

The top two transactions for will show SAI leaving your wallet and DAI entering it. By default, Gilded categorizes these transactions as Income and Expense.

Instead, these transactions should be categorized as Trades. Click on the SAI and DAI transactions and change the classifications to Trade.

Remember to click the Save button after classifying, and you're all set!

Have any questions about the migration? Reach out to us using the orange chat bubble below.

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