Your DAI on OKX has been automatically swapped to USDS at a 1:1 ratio. You do not need to do any migration yourself. The USDS now in your account is the upgraded version of your old DAI. It works in a similar way, but it adds one thing DAI did not have: the Sky Savings Rate.
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How the swap happened
On April 15, 2026, OKX took a snapshot of funding accounts and trading accounts. After that, the system automatically swapped eligible DAI into USDS at a rate of 1 DAI = 1 USDS. Holdings below 1 DAI, DAI that was being withdrawn at the snapshot time, or DAI that had not arrived yet were not included. Accounts with identity verification below Lv.2 were also not supported for the swap.
If you see that DAI has disappeared from your OKX asset list and USDS has appeared, that means the swap is complete. DAI deposits, withdrawals, and transfers have been closed. Old DAI is no longer supported for withdrawal.
What you can do with USDS on OKX
Trading: The USDS/USDT spot trading pair is live. You can buy and sell it like other stablecoins. The contract address for USDS on OKX is 0xdc035d45d973e3ec169d2276ddab16f1e407384f on the Ethereum chain.
Deposits and withdrawals: USDS deposits and withdrawals are open. When withdrawing, choose the Ethereum mainnet. The destination address needs to be a wallet that supports ERC-20 USDS.
Earning yield: This is the biggest difference between USDS and DAI. USDS holders can deposit into the savings module through Sky.money to earn the Sky Savings Rate, currently around 3.52% APY. DAI had an older DAI Savings Rate, but the Sky ecosystem now mainly promotes USDS and sUSDS.
If you want to withdraw USDS
After withdrawing to a self-custody wallet, USDS works in a similar way to DAI, but you need to check compatibility. The USDS peg stability module supports 1:1 two-way swaps with USDC. This is the core mechanism that keeps it pegged to $1. If you want to use a stablecoin in a DeFi protocol, first confirm whether it supports USDS or DAI. They can be swapped 1:1, but the contract addresses are different, so you cannot mix them up.
One technical difference to note: USDS is deployed on an upgradeable proxy contract. Sky governance could vote to add a freeze function in the future. As of 2026, the freeze function has not been implemented, but DAI's non-upgradeable design does not have this possibility. If you clearly need censorship resistance, DAI can still be used in a self-custody wallet, but DAI withdrawals are no longer supported in OKX accounts.
Completion checklist
Checking after the swap is simple: open the OKX assets page and confirm that DAI is no longer in the list and that your USDS amount equals your old DAI amount. If the numbers do not match, or if you held DAI but see nothing in the list, first check whether you met the Lv.2 verification requirement and the minimum threshold of 1 DAI at the snapshot time. OKX has mentioned that the swap may take longer due to coordination with the project team. If you meet the requirements but USDS has not arrived, contact OKX customer support to check the snapshot record.
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References
- OKX Help Center · OKX supports DAI to USDS crypto migration, page published or updated: date not indicated on page; checked: date not indicated on page.
- OKX Help Center · OKX lists USDS for spot trading, page published or updated: date not indicated on page; checked: date not indicated on page.
- MetaMask Official · DAI vs USDS, page published or updated: date not indicated on page; checked: date not indicated on page.
- Sky Official Blog · What is USDS, page published or updated: date not indicated on page; checked: date not indicated on page.
- CoinPaprika Education · DAI and USDS: MakerDAO brand upgrade explanation, page published or updated: date not indicated on page; checked: date not indicated on page.
