OKX to support DAI Savings Rate (DSR) on On-chain Earn
OKX is launching DAI Savings Rate (DSR), supported by MakerDAO, on Sep 14, 2023 at 3am UTC.
You can stake a minimum of 1 DAI to earn daily interest. You can also redeem at any time. Gas fee covered by OKX.
| Product | Staking |
Redemption |
Product quota |
Individual quota | Min staking amount | Est APR |
|---|---|---|---|---|---|---|
| On-chain Earn | DAI |
DAI |
N/A |
N/A |
1 DAI |
Approx 5% (Note: APR is adjusted automatically based on the MakerDAO conditions) |
Interest calculation and distribution
Interest will start generating after we transfer your staked DAI to the DSR at 3 am 2023.09.14 UTC. Your interest will be distributed to your Funding account after redemption.
DAI Savings Rate (DSR)
DSR is a contract that users stake DAI and earn interest, where they have total and independent control over their staked DAI at all times.
Learn more about DSR here
MakerDAO
MakerDAO is a decentralized protocol built on the Ethereum blockchain. It offers crypto lending and borrowing functionalities through its collateralized stablecoin, DAI.
The protocol generates profits from stability fees and interest earned on real-world assets, such as US treasuries. When you stake DAI, you’ll earn interest based on those profits, which are shared with DAI holders through DAI Savings Rate (DSR).
To stake DAI, you can go to:
Web: Navigation bar > Grow > Earn > On-chain Earn, search DAI and select subscribe
App: Grow > Earn > On-chain Earn, search DAI and select subscribe
Disclaimer
Returns for Dai Savings Rate(DSR) come from the DSR product by MakerDao Protocol. Except for project launch and return distribution, OKX assumes no responsibility for disputes over any agreement, hacking incidents, project fraud, and other risks that may result in asset loss for the subscribers.
OKX team
September 14, 2023