Ecosystem Tokens

GRID

GRID, DayFi's native synthetic dollar, is an extension built on M0's $M stablecoin protocol. It benefits from $M's global liquidity network effects, ensuring widespread composability across DeFi and CeFi. It is issued and redeemed by M0 directly, and is fully backed and redeemable at all times.

It's primary functionality is to be staked for sGRID.

sGRID

sGRID is the reward-accruing version of GRID, and is the world's first global electricity asset. sGRID earns rewards from GRID $M emissions and DayFi's physical energy infrastructure.

sGRID is NOT a stablecoin; it is a free-floating yield asset that is minted by staking GRID. Its value increases and decreases with the NAV of the underlying physical infrastructure assets in Daylight's network. It may not be redeemable at all times.

sGRID is represented onchain using the ERC7540 token standard, an asynchronous version of the ERC4626 yield vault standard. The asynchronous functionality allows for better liquidity management with QEV redemptions, while also remaining composable within DeFi. The protocol utilizes Centrifuge v3 for its yield vaults, enabling cross-chain liquidity management across all vaults.

The staking and unstaking price of sGRID tracks the underlying NAV of the protocol's solar + storage asset base, providing a differentiated RWA yield stream to the token. sGRID is a total-return instrument: revenues from the underlying assets are reinvested unless redeemed.