• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Sky Adapts USDS Rates to New Stablecoin Market Conditions

user avatar

by Giorgi Kostiuk

a year ago

The DeFi ecosystem Sky, formerly known as Maker DAO, decided to decrease the USDS savings rate to 8.75%. This change is a response to the increasing competition in the stablecoin market.

Sky Ecosystem Changes

Sky Governance has approved a decrease in the Sky Savings Rate to 8.75%, effective on February 10 at 14:00 UTC. Previously, Sky offered 12.5% in savings, attracting $3 billion in assets under management. Sky Dollar replaces DAI, already carrying 3.75 billion tokens in circulation.

Sky Governance has approved a decrease in the Sky Savings Rate to 8.75%, scheduled for execution on February 10 at 14:00 UTC.None

Adapting to Market Conditions

Some of the proposed changes for the Sky ecosystem reflected market turbulence observed on February 3. The decline in ETH to $2,080 resulted in $313 million in DeFi sector liquidations, impacting Aave and Compound, but Sky and Spark Protocol had smaller losses.

USDS Supply Expansion

USDS is showing rapid expansion, adding 2.1 billion tokens in the past month. The stablecoin was used in test vaults on Solana and Base, increasing circulation by more than $100 million.

Sky continues to adapt to the current market situation, focusing on sustainable growth and the development of the DeFi sector.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Taiwan Strengthens Defense in Response to Chinese Pressure

chest

Taiwan's President Lai Chingte is enhancing defense measures in response to increasing pressure from China, including increased spending and counter-espionage efforts.

user avatarDiego Alvarez

Taiwan's Geopolitical Strategy Shifts Towards Defense and Diplomacy

chest

Taiwan's geopolitical stance is evolving as leaders prioritize defense and diplomacy to counter China's coercive measures.

user avatarElias Mukuru

BitRiver Struggles with Sanctions and Client Losses

chest

BitRiver is facing operational challenges and legal issues due to sanctions and the loss of major clients.

user avatarMaria Fernandez

BitRiver CEO Igor Runets Detained on Tax Evasion Charges

chest

Igor Runets, the CEO of BitRiver, has been detained on charges of tax evasion, facing multiple counts for allegedly concealing assets.

user avatarKenji Takahashi

Brett Coin Gears Up for 2026 with Fun Narratives

chest

Brett Coin (BRETT) is trading at $0.011 with a market cap of $110 million in January 2026, reflecting a 15% increase in the last 24 hours. It emphasizes fun narratives and low-fee trades, benefiting from Base's Ethereum layer-2 efficiency and growing DeFi integrations.

user avatarLuis Flores

Bonk Coin Set for 2026 Growth with Community Focus

chest

Bonk Coin (BONK) is trading at $0.0000008 with a market cap of $550 million in January 2026, reflecting a 25% increase in the last 24 hours. Focused on community airdrops and burns, BONK integrates with DeFi and gaming, leveraging Solana's high throughput for seamless transactions.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.