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saveDAI: More secure savings via a simpler saver experience

saveDAI’s objectives, design decisions, and how we’re addressing key trade-offs

  • saveDAI Principle I: More secure savings
  • saveDAI Principle II: Simple saver experience

I: More Secure Savings

Security is saveDAI’s priority. If it can’t increase the security of DeFi savings accounts over the status quo, then it shouldn’t exist.

II: Simpler Saver Experience

The saveDAI smart contract boosts overall saver security by adding deposit insurance automatically for savers. Just as the best line of code is the one you don’t need to write, the best user experience is the one you don’t force your users to have. We believe that removing the extra step will bring more savers into DeFi and secure more of their savings.


Opening a traditional savings account only requires one currency. For saveDAI, savers will only need to use DAI (with the possible exception of ETH).

Savers deposit; they don’t purchase or swap

Most of DeFi is oriented around tokens. We love tokens — saveDAI benefits from tokens’ transferability and flexibility as both programming interfaces and user interfaces — but the standard acquisition patterns of purchasing or swapping tokens is misaligned with the concept of opening a savings account.


The Opyn protocol — from which saveDAI draws deposit insurance — is fantastic; it allows savers to permissionlessly purchase deposit insurance on their savings in the form of put options on their cDAI tokens. Because of its option-oriented structure, however, insurance from Opyn introduces some oddities for savings accounts that saveDAI needs to handle.

insured_interest_rate = raw_interest_rate - insurance_premium

Wrapping Up

This post explored how saveDAI secures savings by creating a simpler saver experience. We also previewed how saveDAI handles some of the rough edges of insured DeFi savings accounts.

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The easiest way to open an insured, high-interest savings account

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