USDS

USDS Price

About USDS 

A decentralized, over-collateralized stablecoin that serves as the upgraded successor to DAI within the Sky ecosystem. 

• Native Yield Access: Holders can access the Sky Savings Rate (SSR) to earn variable interest or participate in Sky Token Rewards (STRs) to accumulate governance tokens. 

• Decentralized Backing: The token is supported by a diverse pool of excess collateral, including crypto-assets and tokenized real-world assets (RWAs), managed through on-chain transparency. 

• Multi-Chain Mobility: Integrated with SkyLink to allow seamless movement across multiple blockchains, reducing the cost and time required for cross-chain transactions.

What Is USDS? 

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.

What Makes USDS Unique? 

• Legacy Foundation: Built on the established framework of MakerDAO and DAI, it inherits years of security and stability while introducing new scalability features. 

• Freezing Functionality: Unlike its predecessor, USDS includes a protocol-level capability to freeze funds, intended to protect against theft or transfer errors. 

• Upgradable Structure: The smart contract (a self-executing digital agreement) is designed to be modular (flexible), allowing it to adapt to future regulatory or technical requirements without manual migrations. 

• Integrated Rewards: It features a dual-incentive system where a single deposit can simultaneously earn yield in stable assets and governance power.

What Can You Use USDS for? 

• Generating Passive Income: Depositing into the Sky Savings Rate to accumulate compounded interest. 

• Earning Governance Power: Participating in the Sky Token Rewards program to earn SKY tokens, which are used to vote on protocol changes. 

• DeFi Interoperability: Using the token as collateral to borrow other assets or providing liquidity to decentralized exchanges. 

• Cross-Chain Transfers: Moving funds across different networks like Ethereum, Solana, and Layer 2s via SkyLink.

How Does USDS Work? 

USDS operates through a mechanism called over-collateralization, where the value of the assets backing the stablecoin is higher than the value of the USDS in circulation. Users mint (create) new USDS by depositing accepted assets like ETH or USDC into digital "vaults." If the value of the collateral falls below a certain threshold, the system triggers automated liquidations (selling the collateral) to ensure the stablecoin remains fully backed. Stability is further maintained through governance-voted interest rates that influence supply and demand.

Team Info and Investors 

The project is governed by the Sky DAO, a global community of token holders rather than a traditional corporate hierarchy. It was founded by Rune Christensen, who co-founded MakerDAO in 2017. Major institutional contributors and partners include BlackRock and Janus Henderson, who assist in managing the real-world asset (RWA) reserves that support the protocol's stability.

Where can you buy USDS?

USDS tokens can be traded on decentralized exchanges and centralized crypto exchanges. The most popular exchange to buy and trade USDS is Manifest, where the most active trading pair USDS/USDC has a trading volume of $21,517,853.49 in the last 24 hours. Other popular options include Bitget and Raydium (CLMM).

What is the daily trading volume of USDS (USDS)?

The trading volume of USDS (USDS) is $37,310,768.31 in the last 24 hours, representing a -68.50% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for USDS (USDS)?

USDS (USDS) reached an all-time high of $1.15 and an all-time low of $0.9483. It’s now trading -13.20% below that peak and 5.50% above its lowest price.

What is the market cap of USDS (USDS)?

Market capitalization of USDS (USDS) is $11,697,569,143 and is ranked #11 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of USDS tokens (12 Billion tokens are tradable on the market today).

What is the fully diluted valuation of USDS (USDS)?

The fully diluted valuation (FDV) of USDS (USDS) is $11,684,987,836. This is a statistical representation of the maximum market cap, assuming total number of 12 Billion ETH tokens are in circulation today.

How does the price performance of USDS compare against its peers?

With a price increase of 0.00% in the last 7 days, USDS (USDS) is outperforming the global cryptocurrency market which is down -3.30%, while outperforming when compared to similar Stablecoins cryptocurrencies which are down -0.30%.

How to add USDS (USDS) to MetaMask?

Adding USDS (USDS) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import USDS as a token. You can copy USDS’s contract address (0xdc035d45d973e3ec169d2276ddab16f1e407384f) and import it manually, or if you've installed MetaMask's chrome extension, add USDS to MetaMask with one click on CoinGecko.

Add USDS to MetaMask.