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sDORI

Introduction​

sDORI is the yield-accruing version of the DORI stablecoin within the WeissFi protocol. It represents a proportional share of DORI held in the WeissFi Savings Pool and increases in value through an exchange-rate mechanism.

Users can deposit DORI into the Savings module to receive sDORI, and redeem sDORI back into DORI at any time at the current exchange rate. sDORI is non-rebasing, fully backed, and always redeemable for its underlying DORI value.

Architecture Overview​

sDORI is implemented as:

  • A share token representing your portion of the Savings Pool
  • Backed 1:1 by DORI inside the Savings Pool
  • Value growth driven by protocol interest flows

The Savings Pool contract manages:

  • Total DORI held
  • Total sDORI minted
  • The exchange rate (dori_per_sdori)
  • Reward distributions
  • Deposit / redeem logic

No locking period, no deposit fees, no withdrawal fees.

How sDORI Works​

Deposit Flow​

  1. User deposits DORI into the Savings Pool
  2. Pool mints sDORI = amount / exchange_rate
  3. User receives sDORI in their wallet

Value Growth​

sDORI increases in value when:

  • Borrowers pay interest
    • 85% of all interest goes to sDORI holders (Savings Pool)
    • 15% goes to gDORI holders (Stability Pool)

When interest arrives, the Pool updates the exchange rate:

new_exchange_rate = totalDORI / totalSDORI

Redemption Flow​

  1. User sends sDORI to the Pool
  2. Pool burns sDORI
  3. Pool sends back DORI = sDORI * exchange_rate

Properties​

  • Constant balance – Your sDORI balance stays the same; value increases via exchange rate
  • Fully backed at all times – Every sDORI corresponds to underlying DORI
  • Always redeemable – Withdraw your DORI at any time
  • Exchange-rate-based growth – Your sDORI is worth more DORI over time
  • Zero lock-in – No vesting or lockup periods
  • Zero deposit fee – No fee when depositing DORI
  • Zero withdrawal fee – No fee when redeeming sDORI
  • Value accrues passively – No action required to earn yield

This makes sDORI a natural "home asset" for users who want a productive representation of DORI.

Security Model​

  • Fully backed: Every sDORI token always corresponds to underlying DORI in the pool
  • Monotonic exchange rate: Exchange rate only increases — never decreases
  • No reliance on external yield: All yield comes from borrower interest
  • Withdraw anytime: Users can redeem sDORI 1:1 against the pool value

Summary​

  • Share token for the Savings Pool
  • Value grows via exchange rate
  • Grows from 85% of borrower interest
  • Redeemable anytime
  • No fees, no lockups
  • Simple and safe

sDORI is a simple, safe yield-bearing version of DORI for users who want passive, predictable returns.