On August 4th, 2023, as part of the weekly Maker Governance Cycle, MKR holders voted for a DSR increase to 8%.
Read about what DSR is in our recent blog post.
What can you do now on Summer.fi?
As you know, when you deposit your DAI into the DSR (the Dai Savings Rate), MakerDAO rewards you for holding your DAI. This revenue share has been increased to 8% with this vote.
The system generates this revenue through various mechanisms, such as stability fees. As a DAI holder, you can capitalize on this revenue based on your deposited DAI amount and the prevailing DSR.
Optimize your portfolio with DSR
On Summer.fi you could use crypto as collateral: you can borrow DAI using Maker or Ajna protocols, and use the borrowed DAI within the Dai Savings Rate. As a user you can take advantage of the difference in rates between the borrowed positions and the DSR.
DSR is an annual rate. If you hold 10000 DAI, with a 8% DSR after 12 months you will have 10800 DAI.
On Summer.fi you can seamlessly deposit your DAI into the DSR clicking here.
You can also swap your cryptocurrencies to DAI in just a few steps, without leaving Summer.fi app, with the LI.FI widget.
If you need further information about how to use the widget, read this article with a step-by-step tutorial.
How much does it cost?
This Earn Strategy is free of charge. All you have to pay are the gas fees for each transaction.
This is a long-term position; you can leave your Dai in the Dai Saving Rate contract for as long as you need or wish to. Even in cases where Maker reduces the Dai Savings Rate, your Dai will remain there until you withdraw it. You don't need to do anything if the Dai Savings Rate changes.
Visit https://summer.fi/earn/dsr and use the DSR to unlock your stables portfolio. Don't let your DAI sit idle when it can be working for you.
If you have any questions regarding Summer.fi in general, you contact us at email@example.com or on our social media.