Savings Dai
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SDAI to USD converterSDAI
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Stablecoin
Asset-Backed Stablecoin
About Savings DaiSavings Dai (sDAI) is a yield-bearing ERC-4626 wrapper token representing DAI deposited into MakerDAO's Dai Savings Rate (DSR) module, enabling DAI holders to earn passive yield governed by MakerDAO (now Sky Protocol) while maintaining full liquidity for use across DeFi. Depositing DAI mints sDAI, an ERC-4626 vault token whose DAI-denominated redemption value increases continuously as interest accrues, with the DSR funded by stability fees from crypto-collateralized loans, revenue from RWA collateral, and income from SparkLend. The DSR rate has fluctuated between 3.5 and 11 percent APY depending on MakerDAO governance decisions and protocol revenue, with sDAI accruing value automatically through on-chain rate adjustments managed by MKR token holders. sDAI implements ERC-4626 fully, which is why it plugs directly into protocols such as Aave and SparkLend without custom integration code. Trading across decentralized exchanges and integrated directly into Summer.fi, DeFi Saver, and other yield farming interfaces, sDAI adoption depends on DAI ecosystem growth, governance decisions on DSR rate sustainability, and competitive positioning against alternative yield-bearing stablecoins like USDe and USDY with different yield sources and risk profiles.
Assets Details
Access Model
PermissionlessRedeemable
YesAttestations
NoCEX Listed
YesKYC to mint or redeem
YesTransferable
YesSelf Custody
Yes