DSR (Dai Savings Rate)
DSRSky Savings Rate
Maker / Sky's protocol-set rate paid to DAI / USDS depositors — historically a benchmark for stablecoin yields.
The DSR (and its Sky-rebrand sibling, the SSR) is set by governance based on protocol revenue and target balance. As of 2026, DSR / SSR has tracked broadly the short-end USD curve, often within 50bp of the 4-week T-bill yield.
Related terms
- DAIThe pioneering decentralised stablecoin, issued by MakerDAO via [[cdp]] vaults backed by ETH, RWA, and other collateral.
- USDSSky's post-Endgame stablecoin, 1:1 swappable with [[dai]], with sUSDS as the yield-bearing wrapper.
- sDAIMakerDAO's interest-bearing wrapper of DAI, paying the [[dsr]] (DAI Savings Rate).
- MakerDAOThe DAO that issues [[dai]] and (since the Endgame rebrand) [[usds]] — the longest-running decentralised stablecoin operator.
- SkyThe post-Endgame rebrand of MakerDAO — issuer of [[usds]] alongside continued [[dai]] support.