USDS Stablecoin

Yes, DAI and USDS will coexist following the rebranding campaign with no deprecation timeline given. Any USDS which has already been upgraded from DAI can also be reverted using the smart contract, and you can always swap your USDS to DAI using Matcha.

USDS token is a stablecoin, meaning it aims to maintain parity with the US dollar. Just like DAI, USDS is created when assets are deposited as collateral through the Sky platform and dollar-parity is maintained through a Target Rate Feedback Mechanism (TRFM) which involves adjusting rates in order to incentivize a change in supply.

As a result of the upgrade, USDS also grants access to native token rewards on Sky protocol, including governance tokens of individual Sky Star communities.

USDS is currently only available on Ethereum.

The MakerDAO team, now Skybase International, is the entity which has developed and launched USDS and SKY tokens. It is led by Rune Christensen, the Founder & CEO at MakerDAO and Skybase International.

USDS is a stablecoin, a cryptocurrency token that aims to maintain parity with a fiat currency, in this case the US dollar. This is achieved through a Target Rate Feedback Mechanism (TRFM).

USDS was launched on September 18, 2024 along with Sky Governance Token (SKY).

USDS is issued and redeemed at a 1:1 rate for any DAI upgraded through the Sky.money platform. It can be staked to earn native Sky protocol rewards, including Star governance tokens.