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What is sDAI?

Savings Dai (sDAI) is an ERC-4626 representation/wrapper of DAI in the Dai Savings Rate (DSR) module. sDAI allows users to deposit DAI to receive the yield generated by the Maker protocol while still being able to transfer, stake, lend and use it in any way you want.
“Swapping” between DAI and sDAI does not need to be done via a DEX but can be achieved by depositing and withdrawing from the DSR module. You can interact with sDAI through the frontend at SparkLend.
For more technical documentation, please refer to the Developers section.