Savings Dai (sDAI) stablecoin analytics
Answer First
What is Savings Dai (sDAI)?
sDAI is MakerDAO/Sky's savings-rate wrapper of DAI; deposit DAI, accrue the Dai Savings Rate through a rising exchange rate, with DAI-tier CDP risk underneath. The static profile records its DAI-denominated NAV accounting mechanism as: Deposit DAI to mint sDAI and redeem sDAI for the current convertToAssets amount of DAI; the share price rises as DSR accrues, and Spark's savings front-end documents withdrawals without slippage or platform fees
Is sDAI safe?
sDAI holds a B+ Safety Score grade (78/100) in Pharos's latest published rating — a safe-tier grade, so Pharos assesses it as overall safe, though no stablecoin is entirely risk-free. Static metadata says Savings Dai uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Savings Dai (sDAI) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg DAI-denominated NAV.
Variant Relationship
Savings Dai (sDAI) is modeled as a savings variant of Dai (DAI). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
AI summary / Updated Sep 7, 2026
sDAI is the original Dai savings receipt: deposit DAI and receive a token whose redeemable DAI balance grows with the Dai Savings Rate. It adds very little conceptual complexity beyond the base asset, but it still belongs on its own row because holders are choosing a NAV-appreciating yield-bearing wrapper with its own liquidity, integrations, and wrapper-contract risk rather than plain DAI. The underlying still inherits DAI's CDP collateral profile. The Ethereum wrapper is a non-upgradeable contract with no...
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- DAI deposited into the sDAI savings vault; the wrapper remains fully backed by DAI while the exchange rate compounds with the Dai Savings Rate
- Peg Mechanism
- Deposit DAI to mint sDAI and redeem sDAI for the current convertToAssets amount of DAI; the share price rises as DSR accrues, and Spark's savings front-end documents withdrawals without slippage or platform fees
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Next Actions
Exact bot target: /subscribe dews,depeg,safety sdai-sky
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
sDAI quick answers
What is Savings Dai (sDAI)?
sDAI is MakerDAO/Sky's savings-rate wrapper of DAI; deposit DAI, accrue the Dai Savings Rate through a rising exchange rate, with DAI-tier CDP risk underneath. The static profile records its DAI-denominated NAV accounting mechanism as: Deposit DAI to mint sDAI and redeem sDAI for the current convertToAssets amount of DAI; the share price rises as DSR accrues, and Spark's savings front-end documents withdrawals without slippage or platform fees
Is sDAI safe?
sDAI holds a B+ Safety Score grade (78/100) in Pharos's latest published rating — a safe-tier grade, so Pharos assesses it as overall safe, though no stablecoin is entirely risk-free. Static metadata says Savings Dai uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs sDAI?
Pharos classifies sDAI backing as Crypto-Collateralized. Collateral, per the static profile: DAI deposited into the sDAI savings vault; the wrapper remains fully backed by DAI while the exchange rate compounds with the Dai Savings Rate Reserve evidence: live reserve feed configured.
Can sDAI be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Live freeze and blacklist events for sDAI, when applicable, appear in the dossier below.
