Sky Ecosystem, formerly known as Maker, is launching its stablecoin USDS on the Solana platform, aiming to spread it across DeFi markets.
USDS Launch on Solana
Sky Ecosystem launched USDS on Solana with the goal of integrating into the network's DeFi platforms. Sky is already adding small Solana protocols like Loopscale, which offers lending and borrowing with Solana assets.
Support and Integration with Solana Protocols
USDS is also launched on Save, formerly known as Solend, using the Chronicle Protocol oracle to integrate with Solana applications. Sky will offer up to 500K USDS in weekly rewards and incentives to support USDS adoption.
Plans and Future Development of Sky Ecosystem
Sky plans to integrate with various Solana protocols, including Kamino Finance and Drift Protocol, offering targeted incentives to attract liquidity. In the long run, Sky aims to provide Solana-based versions of USDS.
With its expansion onto Solana, the Sky Ecosystem aims to strengthen its presence in the DeFi world by offering stable and competitive solutions for users on both ends of the crypto bridges.
