XIP-50

Support DAI & SDAI

authorkmao
typeintegration-upgrade
networkEthereum, Optimism, Arbitrum, Base, Polygon
statusImplemented
created2024-06-24

Proposal Summary

XIP-50 proposes enabling support for DAI and Savings DAI.

Specification

Overview

Infinex currently supports only supports USDC and USDE stablecoins. Adding DAI as another supported stablecoin, and a yield accruing asset like SDAI will further grow TVL.

Infinex will need to update the UI to effectively reflect DAI & SDAI deposits and withdrawals, as well as the current market price of the asset. The value of these assets will be denominated in USD and determined by a 3rd-party market price feed and will also be counted as TVL for the upcoming Craterun campaign.

Rationale

DAI is the next biggest stablecoin that has not yet been approved by Infinex governance, making it obvious why Infinex supporting it will be important. Furthermore, SDAI is another yield accruing asset which can also added to Infinex to encourage further deposits.

Technical Specification

A list of the supported token, network, and token address can be found below. Infinex will add support for deposit and withdrawals for all of the listed tokens.

TokenNetworkToken Address
DAIMainnet0x6b175474e89094c44da98b954eedeac495271d0f
DAIArbitrum One0xda10009cbd5d07dd0cecc66161fc93d7c9000da1
DAIOptimism0xda10009cbd5d07dd0cecc66161fc93d7c9000da1
DAIBase0x50c5725949a6f0c72e6c4a641f24049a917db0cb
DAIPolygon POS0x8f3cf7ad23cd3cadbd9735aff958023239c6a063
Savings Dai (SDAI)Mainnet0x83f20f44975d03b1b09e64809b757c47f942beea

The Infinex account currently does not block deposits from all ERC-20 tokens, which means to support DAI & SDAI deposits, Infinex will simply just need to upgrade the backend infrastructure to track those deposits.

Copyright

Copyright and related rights waived via CC0.

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