What is sDAI?

Savings Dai (sDAI) is a yield bearing stablecoin, representing DAI in the Dai Savings Rate (DSR) module, which distributes revenue from the Maker protocol to DAI holders. It is an ERC-4626 representation (wrapper) of DAI in the DSR.

sDAI allows users to deposit DAI to receive the yield generated by the Maker protocol while still being able to transfer, stake, lend, and use it in any way you want.

“Swapping” between DAI and sDAI does not need to be done via a DEX but can be achieved by depositing and withdrawing from the DSR module.

You can interact with sDAI through our Spark dashboard.