Sky Adapts USDS Rates to New Stablecoin Market Conditions

user avatar

by Giorgi Kostiuk

2 years 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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Crypto Faces Setback in Ohio Election

Crypto-aligned political groups faced a major setback in Ohio as Democrat Sherrod Brown won against Republican Jon Husted despite significant spending.

user avatarLeo van der Veen

MEXC Launches AI-Powered Trading Tools and Global Card

MEXC introduced new AI-powered trading tools and a virtual Visa card to enhance user experience and accessibility.

user avatarAisha Farooq

MEXC's Trading Volume and User Engagement Surge

MEXC reported a substantial increase in trading volumes and user participation across various stock-related products in Q3 2026.

user avatarLi Weicheng

MEXC Releases Q3 2026 Ecosystem Growth Report

MEXC has published its Q3 2026 Ecosystem Growth Report, highlighting significant growth in trading activities and product offerings.

user avatarTenzin Dorje

Technical Indicators Suggest Challenges Ahead for Bitcoin

Technical indicators suggest challenges ahead for Bitcoin as traders monitor key levels for potential momentum shifts.

user avatarBayarjavkhlan Ganbaatar

Democrats Gain Control in 2026 US Midterm Elections

The 2026 US midterm elections resulted in a significant political shift, with Democrats securing majorities in both the House of Representatives and the Senate, altering the balance of power in Washington.

user avatarMohamed Farouk

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.