USDS Surpasses $10B Mark Amid Sky Protocol's Institutional Push
The Sky Protocol's flagship stablecoin, USDS, has surpassed $10 billion in supply after adding $237 million in just one 24-hour period. This milestone solidifies its position as a top stablecoin in decentralized finance.
This significant increase didn't happen overnight; it was the result of Sky Agents deploying over $5.5 billion into institutional strategies with partners like BlackRock, Janus Henderson, and PayPal. These partnerships involve high-stakes investments that generate revenue for USDS holders through a savings-rate version of the stablecoin called sUSDS.
The protocol's total collateral ranges from $10 to $13 billion, meaning every USDS in circulation is backed by more than one dollar's worth of assets. The Sky Savings Rate functions like a high-yield savings account for crypto, with interest coming from protocol revenue rather than traditional bank lending operations.