What is $xDAI and $sDAI?
In short, you need both to trade on Mu.
Last updated
In short, you need both to trade on Mu.
Last updated
$xDAI - the native token of the network, is a stablecoin and a gas token.
$sDAI - an interest-bearing stablecoin usable as collateral for trade and liquidity on Mu.
A detailed explanation of what xDAI and sDAI are given here by the Gnosis Chain team:
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 they 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.
