0xe52c3932…d726sent to0xaa6bfa17…258e·#23,880,484·view on Etherscan
{"title":"Upgrade 0x36's sDAI to sUSDS","description":"Forum Discussion: https://shutternetwork.discourse.group/t/upgrade-0x36-sdai-to-susds/766\n\n| Proposal Title | Author(s) | Phase | Date Created |\n|----|----|----|----|\n| Upgrade sDAI to sUSDS | 5pence | Onchain | 3 November 2025 |\n\n## Proposal\n\nUpgrade all sDAI to sUSDS\n\n## Background\n\nIn June 2024, Shutter DAO 0x36 passed [Proposal 18](https://app.decentdao.org/proposals/18?dao=eth:0x36bD3044ab68f600f6d3e081056F34f2a58432c4) to convert 3M USDC into the DSR contract. At the time, the DSR (Dai Savings Rate) was at 8% APY.\n\nSince then, Sky Protocol (formerly Maker Protocol) introduced sUSDS - the new version of sDAI, which offers a higher yield. sUSDS represents USDS deposited into and earning the Sky Savings Rate.\n\nThe DSR (Dai Savings Rate) is currently at 1.5% APY. The SSR (Sky Savings Rate) is currently at 4.75% APY.\n\n## Current Holdings (as of 28 Oct 2025)\n\nShutter DAO 0x36 currently holds 1,524,525.99 sDAI, valued at USD $1,783,695.41.\n\nShutter DAO 0x36 currently does not hold any sUSDS.\n\n## Financial Impact\n\nThe projected financial impact of the upgrade from sDAI to sUSDS is an additional gain of $57,967.60 per year.\n\nIf Shutter DAO 0x26 does not upgrade (and the DSR does not change), the sDAI will earn 1.5% APY - $26,755.43 in yield per year.\n\nIf Shutter DAO 0x26 upgrades from sDAI to sUSDS (and the SSR does not change), the sUSDS will earn 4.75% APY - $84,723.03 in yield per year.\n\n## Method\n\nShutter DAO 0x36 can upgrade sDAI to sUSDS in the [Spark Finance app](https://app.spark.fi/), triggered by a Decent proposal.\n\nThe upgrade does not incur fees and is not subject to slippage. The onchain transaction will require ETH for gas (paid by the transaction executor, not paid by Shutter DAO0x36).\n\n## Contract Addresses\n\nsDAI on Ethereum Mainnet: [0x83f20f44975d03b1b09e64809b757c47f942beea](https://etherscan.io/address/0x83f20f44975d03b1b09e64809b757c47f942beea) ([source](https://docs.spark.fi/user-guides/earning-savings/sdai))\n\nsUSDS on Ethereum Mainnet: [0xa3931d71877c0e7a3148cb7eb4463524fec27fbd](https://etherscan.io/address/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd) ([source](https://docs.spark.fi/user-guides/earning-savings/susds))\n\n## Schedule\n\n3 Nov 2025: Test upgrade (100 sDAI to sUSDS)\n\n17 Nov 2025: Full upgrade (1,524,425.99 sDAI to sUSDS)\n\n## Executable Code for the Test Upgrade (100 sDAI to sUSDS)\n\n### Transaction 1: Approve sDAI\n\nTarget Address: 0x83F20F44975D03b1b09e64809B757c47f942BEeA\n\nName: approve\n\nParameter: address spender\n\nValue: 0xf86141a5657Cf52AEB3E30eBccA5Ad3a8f714B89\n\nParameter: uint256 value\n\nValue: 100000000000000000000\n\nETH: n/a\n\n### Transaction 2: Upgrade sDAI to sUSDS\n\nTarget Address: 0xf86141a5657Cf52AEB3E30eBccA5Ad3a8f714B89\n\nName: migrateSDAISharesToSUSDS\n\nParameter: address receiver\n\nValue: 0x36bD3044ab68f600f6d3e081056F34f2a58432c4\n\nParameter: uint256 sharesIn\n\nValue: 100000000000000000000\n\nETH: n/a\n\n## Platform\n\n**Decent** (this proposal will trigger an onchain transaction if passed)\n\n---\n\n## Voting Options\n\n* **Vote “Yes”** to upgrade all sDAI to sUSDS\n* **Vote “No”** to not upgrade\n* **Vote “Abstain”** if you have no opinion but wish to help the vote reach quorum\n\n\n\n\n\n\n\n"}