Savings Dai Price(SDAI)

Savings Dai (sDAI) is a token that represents Dai deposited into the Dai Savings Rate (DSR) module. It allows users to earn yield on their Dai holdings while still being able to transfer, stake, lend, and use the token in various decentralized finance (DeFi) applications. The core function of sDAI is its connection to the Dai Savings Rate, which is a feature of the Maker Protocol that enables any Dai holder to earn a savings rate on their Dai. When Dai is deposited into the DSR smart contract, it begins to accrue yield, which is paid out in Dai. The sDAI token then represents this yield-bearing Dai. Unlike rebasing tokens, sDAI is an accumulating token, meaning its Dai-denominated value gradually increases over time as it accrues interest. Each sDAI token is fungible and can be instantly redeemed for Dai. The deposited Dai is not locked and can be withdrawn at any time. The DSR, and therefore the yield for sDAI, is funded by revenue streams of the Maker Protocol, which can include fees from crypto-collateralized loans, investments into U.S. treasury bills, and liquidity provisioning. The Dai Savings Rate is set by Maker governance, which involves MKR token holders, and is subject to change. sDAI is built as an ERC-4626 token, which is a standard for yield-bearing vaults. The process of converting Dai into sDAI and vice versa can be done directly by interacting with the DSR module, without needing to use decentralized exchanges. Learn more

Looking to buy How to buy SDAI? The process is simple and hassle-free! You can easily purchase SDAI on LBank by following our step-by-step buying guide. We provide detailed instructions and video tutorials showing how to register on LBank and use various convenient payment options.

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