About
USDS is the stablecoin of the decentralized Sky ecosystem, designed to maintain a soft peg (a value intended to stay close) to the U.S. dollar. It functions as a versatile tool for decentralized finance (DeFi), allowing value to move through the system via peer-to-peer lending and saving without a middleman. The token is 'put to work' by being supplied to various protocol modules; for example, users can convert USDS into sUSDS to earn interest from protocol revenue or lock it to receive SKY governance tokens. As the ecosystem grows, this scales through "Sky Stars," which are semi-autonomous projects that expand the stablecoin’s utility into specialized areas like institutional credit and advanced lending.
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History
Sky Protocol Launches with USDS Stablecoin
Recent News
Compound Partially Lifts Pause on USDC, USDS Lending Markets
Compound Resumes Withdrawals from USDC, USDS Markets
SKY Leads Market Gains Following Launch of USDS Staking Rewards
Sky Protocol Migrates 26% MKR to SKY Governance Token, Launches USDS Staking Rewards, Penalty From September
DeFi Savings Protocol Sky Slumps to $5M Loss as USDS Interest Payments Wipe Out Profit
Sky community mulls final proposal to replace MKR with SKY as sole governance token, enabling staking and USDS rewards
