Sky Dollar (USDS) Price, Charts & Market Data

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.