At any time, you can use Summer.fi to convert your sDAI into DAI at the current exchange rate. Converting sDAI to DAI incurs no additional costs and no slippage as it is deposited or withdrawn from the DSR contract.

The DSR is a special module in the MakerDAO smart contract system that allows DAI holders to receive a share of the revenue earned by MakerDAO.

MakerDAO pays deposits in the Dai Saving Rate the shown APY continuously on every block. You can deposit as much as you want and withdraw at any moment. There are no lock-ups and no fees for using the Dai Savings Rate.

The yield comes from the profits generated by MakerDAO. Since Maker wants Dai to be used extensively in DeFi it has a mechanism for incentivizing users to hold Dai. Redistributing a part of the profits of MakerDAO for the Dai Savings Rate makes Dai grow.

How much does it cost?

This Earn Strategy is free of charge. All you have to pay are the gas fees for each transaction.

You don't need to manage this position; you will Earn more Dai at the rate shown continuously until MakerDAO adjusts the rate.

This is a long-term position; you can leave your Dai in the Dai Saving Rate contract for as long as you need or wish to. Even in cases where Maker reduces the Dai Savings Rate, your Dai will remain there until you withdraw it. You don't need to do anything if the Dai Savings Rate changes.

The rate could be adjusted up or down without prior notice; generally, rate adjustments will be announced in advance, and we will communicate the changes on all our channels, such as or .

Savings DAI (sDAI) is a yield-bearing token representing DAI deposited in Maker's DAI Saving Rate (DSR) module. sDAI is connected to the DAI Savings Rate Module, which automatically accrues the DAI savings rate yield set by Maker governance.

When depositing into the DSR through Summer.fi you can choose to mint sDAI, this will then be available in your wallet to use as you please. One example where you can use the sDAI token is with Ajna to borrow USDC against it, which you can try here. For example:

You deposit 10,000 DAI into the DSR Product and opt-in to minting sDAI. Once your deposit transaction is successfully submitted, you will receive the equivalent of sDAI at the current price.

To illustrate, let's assume sDAI price is 1.03 DAI. When you deposit 10,000 DAI you will get 9,700 sDAI. sDAI will accrue interest and constantly accumulate; this means that sDAI's value effectively always increases relative to DAI. After some time, when sDAI price reaches 1.05 DAI, for example, you can convert your 9,700 sDAI to 10,185 DAI.

You can find the current DAI Savings Rate on Summer.fi

You can find the sDAI Token Contract

More information on Maker Governance can be found