sDAI Surpasses $10M in TVL in One Month

By LI.FI / Jumper
Jan 16, 2024, 9:38 AM
twitter

Savings Dai (sDAI) has seen a surge in value, reaching $10M in Total Value Locked (TVL) within a month.​ sDAI is a yield-bearing stablecoin that generates a 6.​8% yield.​ The interest earned from DAI bridged to Gnosis Chain is redirected to sDAI holders.​ Whales are bridging xDAI to Gnosis Chain to earn high yields.​ The yield comes from the interest accrued by sDAI, which is redirected from the xDAI Bridge on Ethereum mainnet.​ This yield is generated by the revenue Maker generates on DAI minting and the RWAs it holds.​

Sources

sDAI -->$10M in TVL --> $55M in one month ⤴️ What is sDAI? And what's behind its surge? ⤵️ Savings Dai (sDAI) is a yield-bearing stablecoin that generates 6.8% yield. 🧑‍🌾 All the DAI bridged to Gnosis Chain is earning interest at MakerDAO. This interest is redirected to the

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7,000,000 DAI & 6,000,000 DAI 🤯 A whale just bridged a staggering $13M $DAI in 2 txs to Gnosis on Jumper.exchange via the xDai Bridge. Here's the scoop: whales are actively bridging MILLIONS of DAI to deposit sDAI on @gnosischain. Are the whales onto something? 🦉

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