Savings Dai

SDAI Price

About Savings Dai (sdai)

Savings Dai (sDAI) is a yield-bearing token that allows users to earn the Dai Savings Rate (DSR) while maintaining liquidity and composability within the decentralized finance (DeFi) ecosystem.

• It functions as an ERC-4626 compliant wrapper for DAI deposited into the Maker Protocol savings module.
• The token automatically accrues yield, meaning its value increases relative to DAI over time without requiring manual staking.
• Users can use sDAI as collateral, for transfers, or as a savings vehicle across multiple supported blockchain networks, including Ethereum, Base, and Optimism.

What Is Savings Dai

Savings Dai is a tokenized representation of DAI held in the Pot contract of the Maker Protocol, which has since been rebranded as the Sky Protocol. It was developed to bridge the gap between passive savings and active utility. Traditionally, earning the Dai Savings Rate required users to lock their funds into a specific smart contract, making those funds illiquid.

When users deposit DAI into the Spark protocol, they receive sDAI, which serves as a receipt for their share of the total pool. Unlike the standard DSR, sDAI is a fully transferable token that can be used in other applications while still accruing interest. This mechanism allows value to move through the system efficiently, as users no longer have to choose between earning a yield and participating in other market activities.

What Makes Savings Dai Unique

• Native Yield Accumulation: Unlike rebasing tokens that change the balance in a user's wallet, sDAI increases in value relative to its underlying asset, simplifying accounting and tax tracking.
• Cross-Chain Availability: Savings Dai is deployed across multiple Layer 2 networks, allowing users to access institutional-grade savings rates with lower transaction costs than on the Ethereum mainnet.
• Deep Integration: As a core component of the Spark and Sky ecosystem, sDAI benefits from direct liquidity modules and governance-backed security from one of the oldest protocols in the industry.

What Can You Use Savings Dai for?

Savings Dai is pegged to DAI, which is designed to maintain a stable value relative to the US Dollar.

1. Value retention: Savings Dai allows users to hold a digital, on-chain representation of DAI, which tracks the US Dollar. This provides a stable store of value and reduces exposure to the volatility inherent in the broader cryptocurrency market.
2. Yield generation: The token generates native yield through the Dai Savings Rate (DSR). This yield is funded by the Sky Protocol revenue sources, which include stability fees from collateralized loans and income from institutional-grade assets such as US Treasuries. This model is part of a broader trend in yield-bearing stablecoins.
3. Cross-border settlement / value transfer: As an ERC-20 token, sDAI can be sent globally at any time. It enables the frictionless cross-border transfer of value while the principal continues to earn interest during the transfer process.
4. Collateralization: Savings Dai is widely used as backing for borrowing and lending protocols like SparkLend. This allows holders to earn the DSR while simultaneously using their assets as margin for other financial activities.

How Does Savings Dai Work?

Savings Dai operates using the ERC-4626 tokenized vault standard, a technical framework that standardizes how yield-bearing tokens interact with other protocols. When a user deposits DAI, the contract calculates the current exchange rate and mints the appropriate amount of sDAI shares. The underlying DAI is placed in the Maker Protocol "Pot" contract, where it earns interest.

As interest accumulates, the total amount of DAI in the vault grows, but the number of sDAI shares remains constant. This causes each sDAI token to represent an increasing amount of DAI over time. The exchange rate is determined by a rate accumulator in the Pot contract, which tracks the growth of the DSR. Because sDAI is an application-level utility token, it does not have a native fee-paying role; transaction fees for moving sDAI are paid in the native gas of the underlying network, such as Ether on Ethereum.

Team Info and Investors

Savings Dai is a product of Spark, a decentralized lending protocol that operates as a SubDAO within the Sky ecosystem. The protocol is governed by the Sky ecosystem's decentralized governance structure, where token holders vote on key parameters such as the interest rate. It benefits from the security and institutional backing of the Maker Protocol, which has been a foundational part of the industry since its inception. No traditional venture capital investors are listed for sDAI specifically, as it is a core infrastructure component of a decentralized autonomous organization.

Where can you buy Savings Dai?

SDAI tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Savings Dai is Curve (Ethereum), where the most active trading pair SDAI/FRAX has a trading volume of $730.38 in the last 24 hours.

What is the daily trading volume of Savings Dai (SDAI)?

The trading volume of Savings Dai (SDAI) is $730.39 in the last 24 hours, representing a -95.40% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Savings Dai (SDAI)?

Savings Dai (SDAI) reached an all-time high of $1.65 and an all-time low of $0.1866. It’s now trading -28.10% below that peak and 533.90% above its lowest price.

What is the market cap of Savings Dai (SDAI)?

Market capitalization of Savings Dai (SDAI) is $164,558,886 and is ranked #- on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of SDAI tokens (140 Million tokens are tradable on the market today).

What is the fully diluted valuation of Savings Dai (SDAI)?

The fully diluted valuation (FDV) of Savings Dai (SDAI) is $164,558,886. This is a statistical representation of the maximum market cap, assuming total number of 140 Million ETH tokens are in circulation today.

How does the price performance of Savings Dai compare against its peers?

With a price increase of 0.10% in the last 7 days, Savings Dai (SDAI) is outperforming the global cryptocurrency market which is down -3.00%, while underperforming when compared to similar Yield-Bearing Stablecoin cryptocurrencies which are up 1.00%.

How to add Savings Dai (SDAI) to MetaMask?

Adding Savings Dai (SDAI) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import SDAI as a token. You can copy SDAI’s contract address (0x83f20f44975d03b1b09e64809b757c47f942beea) and import it manually, or if you've installed MetaMask's chrome extension, add SDAI to MetaMask with one click on CoinGecko.

Add SDAI to MetaMask.