OKX On-chain Earning Launches DAI Savings Rate (DSR)

2023-09-15 10:40:37

Collection

ChainCatcher message, the Dai Savings Rate (DSR) has been launched on the OKX chain, allowing users to stake from 1 DAI at a reference annualized return of 5% to earn daily profits. The actual annualized yield will be automatically adjusted based on the real-time status of MakerDAO. Users can also redeem at any time without transaction or service fees. The staked DAI will be transferred to DSR every day at 11:00 AM (UTC+8) and will accrue interest according to on-chain rules. Earnings will be distributed to the user's fund account upon redemption of the principal.

It is reported that MakerDAO's DSR is a contract that allows users to stake DAI and earn returns, giving users complete and independent control over their staked DAI at any time. MakerDAO earns revenue through stability fees and interest from real-world assets (such as U.S. Treasury bonds) and shares it with users who stake DAI through DSR.

(Source Link)

Related tags

OKX DAI Savings Rate DSR MakerDAO

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.