Earn up to 8.5% on your stablecoins

Everything you
need to know

What is Savings?

The Savings product allows users to easily supply various stablecoins and receive Savings USDS (sUSDS) tokens in return. These tokens represent a digital record of your USDS interaction with the Sky Savings module and any value accrued to your position, which compounds automatically in real-time, growing your balance of USDS. As your savings accumulate, the value of sUSDS increases over time. You can withdraw your funds by exchanging sUSDS for the stablecoin of your choice, with no fees or slippage.

The Sky Savings Rate is set through on-chain voting by Sky Ecosystem Governance, remaining unaffected by pool utilization. Rate adjustment proposals, submitted by the ecosystem’s risk management team, are first posted on the Sky forum for community review. Once reviewed, they are voted on-chain, with all details transparently available at vote.makerdao.com. Any changes to the Sky Savings Rate are also announced through Spark’s official channels, including X and Discord.

How does the Sky Savings Rate work?

The Sky Savings Rate (SSR) is an automated token-accumulation mechanism of the decentralized Sky Protocol that takes into account the effect of accumulated USDS compounded in real time. In other words, the USDS you supply to the Sky Savings Rate module enables you to receive sUSDS. The SSR is variable, determined not by market factors but by Sky Ecosystem Governance through a process of decentralized onchain voting. For more details on the Sky Savings Rate, visit the official information page at sky.money.

What is sUSDS and how do I use it?

Savings USDS (sUSDS) is the upgraded version of sDAI, which currently offers higher yield than sDAI. sUSDS is a tokenized record of the USDS deposited in the Sky Savings Rate (SSR) offered by Sky. The sUSDS token enables users to grow the value in USDS on their SSR deposits while still being able to transfer, stake, lend and use it in any way they want.

How do I supply and withdraw funds?

To supply stablecoins, go to the Stablecoins in Wallet section, where you can view your wallet's stablecoin holdings. Select the stablecoin you’d like to supply to Savings, enter the amount, and proceed. In the Transaction Overview window, complete the transactions listed in the Actions section to finalize your supply.

When you wish to withdraw accrued savings, you simply click on the Withdraw button in the Savings USDS window. In the withdrawal window, specify the asset and amount you wish to withdraw. Similarly, to finalize the withdrawal you must execute the transactions in the Actions section.

What are the fees associated with Savings?

There are no dApp nor protocol fees for deposits or withdrawals in the Savings feature or the Sky Savings Rate. However, users are responsible for gas fees associated with decentralized networks like Ethereum.

What are the risks of using Savings?

No protocol or dApp can be considered entirely risk-free. The risks related to the Savings feature are the smart contract risk (the risk of bugs within the protocol code) and depeg risk (the risk of USDS losing its peg to 1 USD, which would impact the value of sUSDS). While significant steps have been taken to minimize these risks–including making the protocol code public, open source, and audited—they cannot be entirely eliminated. You can find additional security-related information in the security and audits sections.