Starknet Welcomes Updated DAI Version with StarkGate Launch

StarkGate has officially launched an updated version of the DAI token on Starknet. This move introduces a new era of DAI usage on the Starknet platform, encouraging users to migrate from DAI version 0 to the new DAI as soon as possible to enjoy enhanced features and improved security.

For all DAI users: the new DAI version is now live on Starknet!

StarkGate has recently launched the updated DAI token on Starknet, meaning that you can now swap your DAI to the new DAI at any time.

We encourage all of you to migrate your DAI v0 to the new DAI version as soon…

— Starknet (@Starknet) April 8, 2024

How to Migrate to the New DAI

DAI users have two primary options for migrating to the new version of the token. The first and simpler method involves using any swap service available on Starknet, such as Avnu Fi, Ekubo Protocol, LayerSwap, Fibrous Finance, Stark Defi, and JediSwap, to swap DAI v0 for the new DAI. Alternatively, users can withdraw their DAI v0 to the Layer 1 (L1) network through StarkGate and then redeposit it on Starknet, where StarkGate will automatically issue the new DAI.

By transitioning to the new DAI, users will be at the forefront of leveraging Starknet’s advanced features, ensuring their digital currency holdings are more secure and versatile than ever.

StarkGate’s initiative to update the DAI token underscores the ongoing evolution of the blockchain and cryptocurrency landscape. It highlights the importance of staying updated with the latest developments to maximise benefits and ensure security in the digital finance realm.