The Maker Foundation will start voting on the shutdown of the single mortgage Sai system on April 24

The Maker Foundation Governance Group announced that it will launch an executive vote on April 24 to vote whether to officially close the single mortgage Sai system. If the voting result is to close the single mortgage Sai system, then CDP holders and Sai holders will enter the global liquidation. For CDP holders, this means that the ETH feed price will be frozen immediately, and CDP holders will no longer be able to mortgage ETH to generate Sai. The system will calculate how much collateral each CDP must retain to fill the outstanding Sai in the market according to the frozen feed price. After the Sai holder redeems the ETH collateral, the CDP holder can retrieve the remaining excess collateral ETH. For Sai holders, 1 Sai can be exchanged for 1 USD ETH at market price after the single mortgage system is closed and activated. Unconverted Sai will become a floating exchange rate. In addition, the official swap liquidity of Sai and Dai was closed on April 9.