Savings Dai
SDAI
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Savings Dai (sDAI) is an ERC-4626 yield-bearing wrapper of DAI deposited into the Dai Savings Rate (DSR) within the Sky (formerly MakerDAO) ecosystem. From a structural and security perspective, sDAI maintains robust foundations, featuring an audited smart contract by ChainSecurity, transparent on-chain governance via Phoenix Labs and Sky ecosystem mechanisms, and no record of exploits, depegging, or regulatory sanctions (8.0/10 Security, 7.5/10 Team & Governance). However, sDAI is a formally deprecated legacy token that has been superseded by Savings USDS (sUSDS). As a consequence of this migration, active development and community engagement on sDAI have ceased, resulting in data gaps (INSUFFICIENT DATA / -1.0) for both Active Development and Community Support. The token's economic and market standing continues to erode, characterized by declining holder counts, contracting supply, and near-zero daily trading volume despite existing DeFi integrations (4.5/10 Tokenomics, 3.5/10 Market and Use Case). Because the asset is formally deprecated in favor of sUSDS, the investment recommendation is set to Avoid.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Savings Dai (SDAI)
Savings Dai (sDAI) is a formally deprecated yield-bearing token within the Sky (formerly MakerDAO) ecosystem that has been superseded by Savings USDS (sUSDS). Deployed primarily on Ethereum with representations on networks including Optimism and Base, sDAI functions as an open-source ERC-4626 vault wrapper. It allows holders to deposit DAI into the Dai Savings Rate (DSR) module to earn protocol-generated yield, governed through on-chain Sky ecosystem mechanisms alongside Phoenix Labs.
The token utilizes an appreciating exchange rate mechanism rather than a rebasing supply, meaning sDAI accrues value relative to DAI as savings interest accumulates. Its supply is fully backed and elastic, minting when users deposit DAI and burning upon redemption. Although sDAI has seen collateral adoption across decentralized finance lending protocols such as Aave V3 and Morpho V1, it is maintained as a legacy asset following the protocol's transition to the Sky brand and the sUSDS savings product.
Because sDAI has been superseded, active technical development and community engagement for the token have ceased, and governance attention has shifted to sUSDS. The asset exhibits severe liquidity constraints, minimal daily trading volume, and contracting total supply alongside declining holder numbers. While the core sDAI contract was audited by ChainSecurity and has recorded no direct smart contract exploits or depeg events, users face counterparty exposure to the broader Sky protocol and DAI stablecoin without ongoing feature development.