DayFi introduces a two-token system designed to connect capital markets to distributed energy infrastructure. Each token plays a distinct role within the protocol’s financial architecture, linking liquidity with electricity generation.

GRID is DayFi’s unstaked token, built as an extension on M0’s $M stablecoin protocol. It inherits $M’s liquidity and composability across DeFi, ensuring seamless integration throughout global markets. GRID is issued and redeemed directly by M0 and remains fully backed and redeemable at all times. Within DayFi, its primary function is to serve as the base asset that can be staked to mint sGRID.

sGRID is created when GRID is staked in the DayFi protocol. It derives its yield from two sources: $M emissions associated with GRID and revenue generated by Daylight’s portfolio of physical solar and battery storage systems.

sGRID is not a stablecoin. It is a free-floating yield token whose value tracks the Net Asset Value (NAV) of Daylight’s distributed energy infrastructure. This NAV reflects the economic performance of the underlying assets, including stablecoin reserves, carrying value, and realized revenues. Because sGRID represents a share of real-world infrastructure, it may not be redeemable at all times, reflecting the asynchronous liquidity of the underlying projects.

sGRID uses the ERC-7540 token standard, an asynchronous extension of the ERC-4626 yield vault framework. This design supports synchronous deposits but asynchronous withdrawals, providing a smoother interface between liquid markets and slower-settling real-world assets. The protocol employs Centrifuge v3 to coordinate yield vaults across chains, maintaining efficient liquidity management throughout the network.

When a user stakes GRID, new sGRID is minted at the current NAV. When redeemed, sGRID is exchanged back for GRID at that same NAV, adjusted for any accrued revenues or impairments. Because sGRID is a total-return instrument, revenues from the energy assets are automatically reinvested into new projects unless explicitly redeemed.

Together, GRID and sGRID connect onchain capital with offchain energy production. GRID provides liquidity and composability; sGRID transforms that liquidity into productive capacity by financing and owning distributed solar and storage systems. This structure turns electricity into a measurable, investable yield stream accessible to anyone participating in the DayFi ecosystem.

THIS IS FOR INFORMATIONAL PURPOSES ONLY AND NOT AN OFFER TO SELL, THE SOLICITATION OF AN OFFER TO PURCHASE, OR AN ENCOURAGEMENT TO PURCHASE ANY FINANCIAL INSTRUMENT, TOKEN OR INTEREST THEREIN. YOU SHOULD NOT RELY ON THE CONTENT HEREIN FOR ADVICE OF ANY KIND, INCLUDING LEGAL, INVESTMENT, FINANCIAL, TAX, OR OTHER PROFESSIONAL ADVICE, AND SUCH CONTENT IS NOT A SUBSTITUTE FOR ADVICE FROM A QUALIFIED PROFESSIONAL OR YOUR OWN RESEARCH. DAYLIGHT MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE COMPLETENESS, RELIABILITY, VALIDITY, OR ACCURACY OF THIS INFORMATION. ANY INFORMATION CONTAINED HEREIN IS SUBJECT TO CHANGE WITHOUT NOTICE. THE PRE-DEPOSIT IS OPEN ONLY TO DEPOSITORS IN ELIGIBLE JURISDICTIONS AND TO THOSE DEPOSITORS WHO HAVE SUCCESSFULLY SATISFIED ANY ELIGIBILITY REQUIREMENTS. THE PRODUCT IS NOT AVAILABLE TO RESIDENTS OF THE UNITED STATES AND ANY OTHER PROHIBITED JURISDICTIONS. ANY OFFER OR SALE OF PREGRID, GRID, OR SGRID WILL ONLY BE DONE SUBJECT TO THE APPLICABLE TERMS AND CONDITIONS, WHICH WILL BE AVAILABLE UPON THE OPENING OF THE DEPOSIT WINDOW FOR THOSE PARTICIPANTS WHO HAVE SATISFIED ALL ELIGIBILITY REQUIREMENTS.

DayFi introduces a two-token system designed to connect capital markets to distributed energy infrastructure. Each token plays a distinct role within the protocol’s financial architecture, linking liquidity with electricity generation.

GRID is DayFi’s unstaked token, built as an extension on M0’s $M stablecoin protocol. It inherits $M’s liquidity and composability across DeFi, ensuring seamless integration throughout global markets. GRID is issued and redeemed directly by M0 and remains fully backed and redeemable at all times. Within DayFi, its primary function is to serve as the base asset that can be staked to mint sGRID.

sGRID is created when GRID is staked in the DayFi protocol. It derives its yield from two sources: $M emissions associated with GRID and revenue generated by Daylight’s portfolio of physical solar and battery storage systems.

sGRID is not a stablecoin. It is a free-floating yield token whose value tracks the Net Asset Value (NAV) of Daylight’s distributed energy infrastructure. This NAV reflects the economic performance of the underlying assets, including stablecoin reserves, carrying value, and realized revenues. Because sGRID represents a share of real-world infrastructure, it may not be redeemable at all times, reflecting the asynchronous liquidity of the underlying projects.

sGRID uses the ERC-7540 token standard, an asynchronous extension of the ERC-4626 yield vault framework. This design supports synchronous deposits but asynchronous withdrawals, providing a smoother interface between liquid markets and slower-settling real-world assets. The protocol employs Centrifuge v3 to coordinate yield vaults across chains, maintaining efficient liquidity management throughout the network.

When a user stakes GRID, new sGRID is minted at the current NAV. When redeemed, sGRID is exchanged back for GRID at that same NAV, adjusted for any accrued revenues or impairments. Because sGRID is a total-return instrument, revenues from the energy assets are automatically reinvested into new projects unless explicitly redeemed.

Together, GRID and sGRID connect onchain capital with offchain energy production. GRID provides liquidity and composability; sGRID transforms that liquidity into productive capacity by financing and owning distributed solar and storage systems. This structure turns electricity into a measurable, investable yield stream accessible to anyone participating in the DayFi ecosystem.

THIS IS FOR INFORMATIONAL PURPOSES ONLY AND NOT AN OFFER TO SELL, THE SOLICITATION OF AN OFFER TO PURCHASE, OR AN ENCOURAGEMENT TO PURCHASE ANY FINANCIAL INSTRUMENT, TOKEN OR INTEREST THEREIN. YOU SHOULD NOT RELY ON THE CONTENT HEREIN FOR ADVICE OF ANY KIND, INCLUDING LEGAL, INVESTMENT, FINANCIAL, TAX, OR OTHER PROFESSIONAL ADVICE, AND SUCH CONTENT IS NOT A SUBSTITUTE FOR ADVICE FROM A QUALIFIED PROFESSIONAL OR YOUR OWN RESEARCH. DAYLIGHT MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE COMPLETENESS, RELIABILITY, VALIDITY, OR ACCURACY OF THIS INFORMATION. ANY INFORMATION CONTAINED HEREIN IS SUBJECT TO CHANGE WITHOUT NOTICE. THE PRE-DEPOSIT IS OPEN ONLY TO DEPOSITORS IN ELIGIBLE JURISDICTIONS AND TO THOSE DEPOSITORS WHO HAVE SUCCESSFULLY SATISFIED ANY ELIGIBILITY REQUIREMENTS. THE PRODUCT IS NOT AVAILABLE TO RESIDENTS OF THE UNITED STATES AND ANY OTHER PROHIBITED JURISDICTIONS. ANY OFFER OR SALE OF PREGRID, GRID, OR SGRID WILL ONLY BE DONE SUBJECT TO THE APPLICABLE TERMS AND CONDITIONS, WHICH WILL BE AVAILABLE UPON THE OPENING OF THE DEPOSIT WINDOW FOR THOSE PARTICIPANTS WHO HAVE SATISFIED ALL ELIGIBILITY REQUIREMENTS.