As we’ve previously mentioned, the currency used to bet on SportX is currently undergoing a transition into a new version called Multi-Collateral DAI with the old version being renamed to Single-Collateral DAI (SAI). Today we are going to be transitioning SportX from SAI to DAI.
All markets listed on SportX up to this point have been denominated and traded in SAI, meaning any unsettled bets currently pending are in SAI. This transition doesn’t affect these markets; all these bets will be paid out like before in SAI straight to your wallet.
However, moving forward, all markets on SportX will now be denominated and traded in DAI. This means that to be able to bet SportX, you will have to transition your SAI to DAI.
To make it easy for our users, we’ve built a migration tool directly into SportX that allows users to migrate their to SAI balances into DAI. With this change, users will also have to re-enable betting. These actions will cost everyone a small amount of ETH for gas fees but our team will cover these costs (we’re currently sending some ETH to all active wallet addresses on SportX).
Here’s the simple three-step process to transition over:
1. Click the “Migrate” button on the Gold banner on Summary Page
2. Press the “Unlock” button. This may take up to 2 minutes to process. You will only ever have to do this once. A green check mark will appear upon completion.
3. Now press the “Migrate All” button. This will convert your SAI (i.e. “old DAI”) into the new DAI, which you can then use to bet on SportX. Again, this may take up to 2 minutes to process.
- You will be re-directed to the summary page. From here, click the “Start” button on the set-up banner.
- Finally, click the “Enable betting” button. This will only ever have to be done once. Again, this may take up to 2 minutes to process.
Congrats! You’re now ready to start betting on SportX with the new and improved DAI!
Please be advised, that there are some outstanding unsettled bets from before the transition that will be paid out in SAI. This means bettors that win these bets will be paid out in SAI, and may need to migrate over more than once. For users migrating a second time, only step 3 in this process will need to be repeated.
Please don’t hesitate to reach out to us through our intercom, discord, and/or by email if you have any trouble! We understand this maybe a tricky process so we’re going to be ready to answer any questions as they come up.