Spark Savings: sDAI & sUSDS
Deposit DAI or USDS into Spark's savings vaults and receive sDAI or sUSDS — ERC-4626 tokens that auto-compound yield from the DAI Savings Rate. No lock-ups, no claiming, no minimum deposit. Your savings token appreciates over time and stays fully composable across DeFi.
How Savings Vaults Work
DAI flows into the DSR contract, sDAI is minted at the current exchange rate, and the rate grows every block as yield accrues.
Key Metrics
sDAI Yield Calculator
Adjust your deposit and time horizon to see how sDAI compounds. The exchange rate grows every block (~12 seconds).
Stablecoin Yield Comparison
How sDAI stacks up against other stablecoin earning opportunities.
| Protocol | Asset | APY | Lock-up | Composable Token | Yield Source |
|---|---|---|---|---|---|
| Spark (sDAI) | DAI | ~6.5% | None | sDAI (ERC-4626) | Stability fees + RWA |
| Spark (sUSDS) | USDS | ~6.5% | None | sUSDS (ERC-4626) | Stability fees + RWA |
| Aave V3 | USDC | ~3.5% | None | aUSDC | Borrower interest |
| Compound V3 | USDC | ~3.2% | None | cUSDCv3 | Borrower interest |
| Morpho | USDC | ~4.1% | None | Vault shares | Optimized P2P lending |
| Ethena | USDe | ~8-15% | 7-day cooldown | sUSDe | Funding rates + staking |
Exchange Rate Mechanics
sDAI maintains a 1:1+ exchange rate with DAI. The rate only goes up as yield accrues — your sDAI is always worth more than what you deposited.
sDAI Composability
Because sDAI is a standard ERC-20 token, it can be used throughout DeFi while still earning the savings rate.
Use sDAI as collateral on Spark, Aave, or Morpho to borrow against it — earning yield on your collateral
Trade sDAI on Uniswap, Curve, or other DEXes. Sell it without unwrapping from the DSR first
Bridge sDAI to Arbitrum, Optimism, Base, and Gnosis Chain via official bridges
Provide sDAI liquidity in pools — earn trading fees on top of the savings rate
As Sky (formerly MakerDAO) transitions from DAI to USDS as the primary stablecoin, sUSDS serves as the savings vault for USDS. It works identically to sDAI — deposit USDS, receive sUSDS, earn auto-compounding yield. Both vaults coexist today, and the savings rate is set by Sky governance for each independently.
Learn about the Sky/MakerDAO Ecosystem ⟶