Tracking the Decentralized Stablecoin market. Compare Maker's DSR against open market lending rates.
| Rank | Protocol | Network | Current APY | TVL | Utilisation | Safety Score | Link |
|---|---|---|---|---|---|---|---|
| #1 | Optimism | 4.26% | $1.3M | 97.5% |
|
DEPOSIT | |
| #2 | Polygon | 3.39% | $6.3M | 73.4% |
|
DEPOSIT | |
| #3 | Ethereum | 3.34% | $409.4M | N/A (DSR) |
|
DEPOSIT | |
| #4 | Ethereum | 3.03% | $185.6M | 87.7% |
|
DEPOSIT | |
| #5 | Arbitrum | 2.21% | $7.8M | 75.4% |
|
DEPOSIT |
When lending DAI, you have two primary options: the Maker DSR (accessed via Spark or sDAI) and p2p lending markets (like Aave or Compound).
1. The DSR (Risk-Free Rate of DeFi):
The MakerDAO protocol sets a "Savings Rate". This is yield generated from the protocol's revenue (RWA, fees). It is considered the safest yield for DAI because it comes directly from the issuer.
2. Lending Markets:
Aave and Compound allow users to borrow DAI. When demand to borrow DAI is high (often during bull markets to leverage up), the lending rate on Aave can significantly exceed the DSR.
Strategy Tip: Check this page daily. If Aave rates are < DSR, move to Spark/sDAI. If Aave rates > DSR + 1%, it may be worth moving to Aave.