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Sky Dollar

Sky Dollar

USDS
#19
$0.9999Down 0.01 percent($0.00)

Key Stats

Market Cap$6.64BDown 0.01 percent
Volume (24h)$1.83M
Fully Diluted Value$6.64B
Vol/Mkt Cap (24h)0.03%
Total Supply6.64B USDS
Max Supply∞
Circulating Supply6.64B USDS
Launch Date2024-09-02
Built OnETH
Token StandardERC20
Smart Contract Address0xdc03…384f
Decimal Places18

Sky Dollar Information

Websites
sky.money
Industries
Stablecoin
Parent Asset
USD

Sky Dollar Price Converter

Sky DollarUSDS
USD
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Latest Sky Dollar News

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Research Reports

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RWA Tokenization Hits $28.9B Record as Stablecoin Market Cap Extends Gains to $320B
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RWA Tokenization Hits $28.9B Record as Stablecoin Market Cap Extends Gains to $320B

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Sky Dollar Markets

View all
InstrumentExchangeBenchmark DataPrice24h Change
Sky DollarUSDT logo
USDS-USDT
USDS_USDT
gateio logogateio
A
0.9999USDT
0.01%
Sky DollarUSDT logo
USDS-USDT
USDSUSDT
bybit logobybit
A
1.00USDT
0.01%
Sky DollarUSDT logo
USDS-USDT
USDS-USDT
okex logookex
A
1.00USDT
0.01%
Sky DollarUSD logo
USDS-USD
USDS-USD
okex logookex
A
1.00USD
0.14%
Sky DollarUSD logo
USDS-USD
USDS-USD
coinbase logocoinbase
AA
0.9999USD
0.00%

Sky Dollar Supported Platforms

View all
Trading AsToken StandardBuilt OnSmart Contract AddressLaunch Date
USDSERC20ETH0xdc035d45d973e3ec169d2276ddab16f1e407384f2024-09-02
USDSERC20BASE0x820c137fa70c8691f0e44dc420a5e53c168921dc2024-10-10
USDSSPLSOLUSDSwr9ApdHk5bvJKMjzff41FfuX8bSxdKcR81vTwcA2024-10-29

About Sky Dollar

Sky Dollar (USDS) is a decentralized stablecoin introduced with the Sky Protocol rebrand in 2024, serving as an upgraded alternative to DAI. Designed to maintain a soft peg to the U.S. dollar, USDS is backed by surplus collateral and stabilized via Peg Stability Modules (PSMs), which allow for direct, predictable exchanges with other stablecoins such as USDC and USDT. As a core asset within its ecosystem, USDS enables users to access a range of decentralized financial services: it can be deposited in savings modules to earn interest, used to obtain governance rewards in the form of SKY tokens, and traded across various liquidity pools. In addition, holding USDS empowers users to participate in on-chain governance decisions. By combining stability, broad utility, and self-custody, USDS represents a significant evolution in decentralized finance.

Frequently Asked Questions

The Sky Protocol is a decentralised financial ecosystem that emerged from the rebranding of MakerDAO in 2024. It was designed to improve governance efficiency, enhance system resilience, and provide a more scalable structure for decentralised finance (DeFi). The protocol builds on the Maker framework, maintaining decentralised governance while introducing upgraded financial instruments, including the Sky Dollar (USDS) stablecoin and the SKY governance token.

The Sky ecosystem offers multiple functionalities, such as the Sky Savings Rate (SSR), Sky Token Rewards (STRs), Seal Rewards, and the upcoming Activation Rewards. Also, SkyLink provides a bridge between Ethereum Layer 1 and Layer 2 networks, enabling lower-cost transactions. The Sky Protocol also features Peg Stability Modules (PSMs) to stabilise USDS and governance mechanisms that enable community-driven decision-making.

The ecosystem includes independent decentralised projects called Sky Stars, such as Spark, which focuses on DeFi lending and borrowing solutions. The Sky Atlas serves as a foundational governance framework, documenting rules and processes for the ecosystem’s evolution.

In August 2024, MakerDAO rebranded to the Sky ecosystem, bringing major upgrades to its decentralised financial infrastructure. The migration introduced USDS as the upgraded stablecoin for DAI holders, while MKR governance token holders had the option to convert to SKY at a rate of 1:24,000. This transition aimed to improve governance efficiency, broaden participation, and support the next phase of DeFi development.

Sky Dollar (USDS) is a decentralised stablecoin introduced by the Sky Protocol as an upgrade to DAI. Designed to maintain a soft peg to the U.S. dollar, USDS is backed by surplus collateral and serves as a core financial asset within the Sky ecosystem. It enables users to access a variety of decentralised financial services, such as savings, rewards, and governance participation, all while maintaining self-custody of their assets.

USDS stability is maintained through Peg Stability Modules (PSMs), allowing direct exchanges with stablecoins like USDC and USDT at predictable rates. This mechanism ensures minimal price volatility and enhances its reliability as a medium of exchange and store of value.

USDS serves several key functions within the Sky Protocol, including:

  • Savings and Interest Accumulation: Users can deposit USDS into the Sky Savings Rate (SSR) module, receiving sUSDS tokens that accrue additional USDS over time.
  • Earning Governance Rewards: By supplying USDS to the Sky Token Rewards module, users earn SKY governance tokens as rewards.
  • Trading and Conversion: USDS can be exchanged for USDC, USDT, ETH, and SKY through decentralised liquidity pools. Additionally, DAI holders can upgrade their tokens to USDS at a 1:1 ratio.
  • Participation in Governance: USDS plays a role in the governance of the Sky ecosystem, enabling users to influence protocol decisions through a decentralised onchain voting system.

Sky Dollar (USDS) was developed by the team behind MakerDAO as part of the transition to the Sky Protocol. The rebrand, led by Rune Christensen and the MakerDAO community, was initiated to address governance challenges and improve the efficiency of decentralised decision-making. The Sky Protocol retains the foundational principles of MakerDAO while introducing new financial instruments and governance mechanisms to ensure sustainability and scalability.