USDS
USDS Stablecoin
active
Crypto Backed
Market Cap $11.5B
USDS is a decentralized stablecoin by Sky Protocol, maintaining a soft peg to the U.S. dollar with a supply exceeding $11 billion.
Key Data
| Backing | Surplus collateral and Peg Stability Modules (PSMs) |
| Redemption | USDS can be exchanged for USDC, USDT, ETH, and SKY through decentralized liquidity pools. DAI holders can upgrade their tokens to USDS at a 1:1 ratio. |
| Peg Currency | USD |
| Launched | 2024 |
Supported Networks
EthereumSolana
Overview
USDS is a decentralized stablecoin introduced by Sky Protocol in September 2024, designed to maintain a soft peg to the U.S. dollar.
How It Works
USDS is backed by surplus collateral and stabilized through Peg Stability Modules (PSMs), allowing direct exchanges with stablecoins like USDC and USDT.
Reserve Backing
USDS can be exchanged for USDC, USDT, ETH, and SKY through decentralized liquidity pools, with DAI holders able to upgrade their tokens to USDS at a 1:1 ratio.
Supported Networks
USDS is deployed on Ethereum as an ERC-20 token and on Solana as an SPL token.