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sDAI profile facts

Savings Dai (sDAI) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg DAI-denominated NAV.

CeFi-DependentCrypto-CollateralizedDAI-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.

Savings variant

Other coins using the sDAI ticker

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.
Contracts
4 deployments tracked across Ethereum, Base, Optimism, and World Chain.

Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.

sDAI quick answers

5
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?

As of Oct 25, 2026, Pharos grades sDAI B- (66/100) on its Safety Score. Pharos's reviews record that freeze exposure is inherited through upstream collateral, custody or wrappers, and any holder can use its reviewed redemption route. That grade is in the Score's upper band, which does not rule out losses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.

What backs sDAI?

Pharos records sDAI's reserves as of Jul 14, 2026 as 100% DAI savings vault shares. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Crypto-Collateralized.

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.

How do you redeem sDAI?

Under the route Pharos reviewed on May 17, 2026, any holder can redeem sDAI for a single stable asset, such as cash or a stablecoin. Redemption settles atomically on-chain. The reviewed terms charge no percentage redemption fee. Whether a given holder qualifies is set by the route's own terms, not by this summary.