DAI Falls function as a single-sided lending pool, where user deposits DAI.e, and in return they will earn both the native lending yield plus its respective platform token reward ($JOE and $QI), converted to DAI at maturity.
As usual, higher risk & reward (~15% APR) is involved on Junior Tranche for DAI savings, while Senior Tranche might give you less yield than you could farm outside of Waterfall, however the yield is targeted to be fixed and stable, therefore offering a hassle free savings experience to our users.