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Home/ Companies/ Sky Protocol/ USDS

Sky Dollar

$9.8B market cap

Issued by Sky Protocol · reviewed

Market cap
$9.84B -0.02% 7d
30-day trend
USDS market cap trend, last 30 days: -0.1%
Volume / market cap
1.6%
Peg drift, 30 days
0.03%

Market data as of , the same daily snapshot the tracker publishes. Peg drift is the largest single-day distance from par over the last 30 days, for USD-pegged tokens only.

Last verified 2026-06-27. 1 of the 8 fields shown is recorded but not yet verified and is marked below; 4 further tracked fields are not recorded.

USDS, also known as Sky Dollar, is a decentralized stablecoin by Sky Protocol, maintaining a soft peg to the U.S. dollar and backed by surplus collateral.

01

Instrument facts

8 of 12 tracked fields recorded
Symbol USDS
Peg USD
Backing Crypto backed
Status Active
Launched 2024
Networks L1 EVM Ethereum, BNB Chain, Avalanche L1 non EVM Solana, Stellar L2 Arbitrum, Base, Polygon, Optimism unverified
Specifications Backing Over-collateralized with a diverse mix of crypto assets, stablecoins, and tokenized real-world assets. Redemption Direct redemption through the issuer is not available; users can exit via DEXs, secondary markets, OTC desks, DEX liquidity pools, or peer-to-peer transactions. KYC required No
Use cases DeFi collateral, Trading, Payments
02

Supply by chain

4 chains · $6.6B total
ChainSupply
Ethereum$6.5B
Arbitrum$100M
Solana$7M
Base$3M

Chains holding at least $1M of this token, from the daily cross-chain compilation. The total may differ from the market capitalization above, which is a separate measurement.

03

Contract addresses

4 chains
ChainAddress
Arbitrum One0x6491c05a82219b8d1479057361ff1654749b876b
Base0x820c137fa70c8691f0e44dc420a5e53c168921dc
Ethereum0xdc035d45d973e3ec169d2276ddab16f1e407384f
SolanaUSDSwr9ApdHk5bvJKMjzff41FfuX8bSxdKcR81vTwcA

Addresses as recorded for this token. Verify against the issuer's own published address before sending funds.

04

Background

USDS, introduced by Sky Protocol in September 2024, is a decentralized stablecoin that serves as an evolution of MakerDAO's DAI. It maintains a soft peg to the U.S. dollar and is backed by surplus collateral. USDS is over-collateralized with a diverse mix of crypto assets, stablecoins, and tokenized real-world assets, with a significant portion of its collateral comprising ETH tokens. The stablecoin is backed by a diverse mix of crypto assets, stablecoins, and tokenized real-world assets, ensuring its stability and reliability.

Compiled from issuer disclosures, on-chain data and market data. Sky Protocol · Methodology