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Record sog_st_usds
USDS/USDS
Also recorded as USDS, Sky Dollar
- Lifecycle
- Active
- Issuance
- Protocol-based
- Reference target
- US dollar
- Primary organization
- MakerDAO / SkyNo additional recorded relationship
- Launch
- 2024-08-27
- Redemption
- Protocol Based
- Backing
- Crypto-collateralized
- Stabilization
- Overcollateralized vault
- Last review
- 2026-06-05
- Evidence
- 6 source records
Reviewed assessment
Identity and current state
This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.A US dollar stablecoin in the Sky ecosystem, introduced alongside the transition from MakerDAO branding and products.
| Name | USDS |
|---|---|
| Symbol | USDS |
| Aliases | USDS, Sky Dollar |
| Asset class | Stablecoin |
| Lifecycle status | Active |
| Issuance status | Protocol-based |
| Canonical record ID | sog_st_usds |
| Route slug | usds |
| Record confidence | Medium |
| Last reviewed | 2026-06-05 |
- Name
- USDS
- Symbol
- USDS
- Aliases
- USDS, Sky Dollar
- Asset class
- Stablecoin
- Lifecycle status
- Active
- Issuance status
- Protocol-based
- Canonical record ID
sog_st_usds- Route slug
usds- Record confidence
- Medium
- Last reviewed
- 2026-06-05
Record coverage
| Section | Entries |
|---|---|
| Organizations | 1 |
| Sources | 6 |
| Reserve reports | 2 |
| Reserve components | 1 |
| Model-history events | 1 |
| Regulatory notes | 0 |
| Deployments | 3 |
| Issuer-control actions | 0 |
| Open questions | 6 |
| Events | 1 |
Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.
- Governance
- DAO Governed
- Primary display organization
- MakerDAO / Sky
- Primary display role
- Protocol operator
- Display selection mode
- Deterministic Policy
- Current relationships
- 1
- Ended relationships
- 0
- Unknown relationship state
- 0
- Freeze capability
- 0 recorded yes · 0 recorded no · 3 not recorded
- Blacklist capability
- 0 recorded yes · 0 recorded no · 3 not recorded
- Deployment control-event references
- 0
- Observed issuer-control events
- 0
- Relationship coverage
- 1 recorded relationship
| Organization | Organization category | Regulatory character | Jurisdiction | Role | Display priority | From | Until | Relationship status |
|---|---|---|---|---|---|---|---|---|
| MakerDAO / Sky | Protocol or software system | Protocol or decentralized system | Unknown or not publicly resolved | Protocol operator | Primary display | 2024-08-27 | Not yet recorded | Active relationship |
Protocol or software system
Primary displayMakerDAO / Sky
- Functional role
- Protocol operator
- Relationship status
- Active relationship
- Regulatory character
- Protocol or decentralized system
- Jurisdiction
- Unknown or not publicly resolved
- From
- 2024-08-27
- Until
- Not recorded
Mechanism
How the asset works
Reference, backing, stabilization, exit, valuation, and yield remain separate facts.- Reference target
- US dollar
- Reference kind
- Fiat
- Comparison category
- US dollar
- Target value
- 1
- Reference methodology
- Targets a US dollar reference value unless the record documents a different target value.
- Public backing model
- Crypto-collateralized
- Canonical backing types
- Mixed
- Reserve component categories
- Unknown
- Primary stabilization mechanism
- Overcollateralized vault
- Recorded model description
- Multi Collateral or Protocol Based
- Redemption / exit model
- Protocol Based
- Valuation source
- Public information is incomplete
- Yield / rebase profile
- None recorded
- Classification notes
- Not recorded
Reserve and redemption
Reserve and redemption
Recorded components, disclosures, reports, and redemption conditions remain explicit.Reserve components
- Mixed backing; component breakdown unresolvedUnknown after review
| Disclosure status | Partial / protocol-transparent |
|---|---|
| Backing types | Mixed |
| Summary | Collateral and protocol balance-sheet information is tracked through Sky protocol transparency rather than a single issuer reserve account. |
| As of | 2026-06-05 |
| Profile confidence | Medium |
- Disclosure status
- Partial / protocol-transparent
- Backing types
- Mixed
- Summary
- Collateral and protocol balance-sheet information is tracked through Sky protocol transparency rather than a single issuer reserve account.
- As of
- 2026-06-05
- Profile confidence
- Medium
| Current status | Protocol Based |
|---|---|
| Settlement asset | Protocol Conversion or Market Exit |
| Eligible parties | Protocol users through supported Sky conversion and exit mechanisms. |
| Retail access | Protocol or App Based |
| Institutional access | Protocol or App Based |
| Minimum amount | Protocol-specific. |
| Fee | Protocol- and interface-dependent. |
| Settlement time | Protocol- and interface-dependent. |
| Regional limits | Interface and jurisdiction restrictions may apply. |
- Current status
- Protocol Based
- Settlement asset
- Protocol Conversion or Market Exit
- Eligible parties
- Protocol users through supported Sky conversion and exit mechanisms.
- Retail access
- Protocol or App Based
- Institutional access
- Protocol or App Based
- Minimum amount
- Protocol-specific.
- Fee
- Protocol- and interface-dependent.
- Settlement time
- Protocol- and interface-dependent.
- Regional limits
- Interface and jurisdiction restrictions may apply.
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| 2026-06-05 | Sky.money | Protocol Disclosure Reference | Protocol Context, Usds, Susds, Not yet recorded | Medium |
| 2026-06-05 | Sky Ecosystem | Protocol Documentation Reference | Multi-collateral, Protocol Context, Not yet recorded | Medium |
Sky.money
2026-06-05- Type
- Protocol Disclosure Reference
- Assets covered
- Protocol Context, Usds, Susds, Public information incomplete
- Record confidence
- Medium
Sky Ecosystem
2026-06-05- Type
- Protocol Documentation Reference
- Assets covered
- Multi-collateral, Protocol Context, Public information incomplete
- Record confidence
- Medium
Deployments and legal context
Deployments and legal context
Network state, contract identity, legal notices, and value states remain separate.| Network | Network record state | Standard | Public deployment category | Canonical deployment type | Operational state | Recorded status | Change or proposal state | Canonicality | Canonicality record state | Verification state | Contract identity state | Contract or identifier | Freeze | Blacklist | Control events | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | Specific network recorded | Not yet recorded | Protocol-native or protocol-supported deployment | Protocol Token | Unknown or unresolved | Not yet recorded | No separate change state recorded | Native deployment | Canonicality recorded | Source-linked record; identifier not recorded | Identifier not recorded | Identifier not recorded | Not yet recorded | Not yet recorded | 0 | Sky developer docs provide USDS protocol and token documentation entry points. Add exact chainlog or contract references before displaying final addresses. |
| Ethereum | Specific network recorded | Not yet recorded | Related asset or wrapper | Related Savings Token | Unknown or unresolved | Not yet recorded | No separate change state recorded | Unknown or not recorded | Canonicality recorded | Source-linked record; identifier not recorded | Identifier not recorded | Identifier not recorded | Not yet recorded | Not yet recorded | 0 | sUSDS is a related savings token and should not be merged into the USDS token record. Exact contract and lifecycle references remain separate follow-up work. |
| multi_chain_or_bridge_context | Aggregate or multi-chain context | Not yet recorded | Cross-chain or bridged representation | Bridge or Protocol Extension | Unknown or unresolved | Not yet recorded | No separate change state recorded | Unknown or not recorded | Canonicality recorded | Source-linked record; identifier not recorded | Identifier not recorded | Identifier not recorded | Not yet recorded | Not yet recorded | 0 | Sky developer docs expose bridge and chainlog entry points. Chain-by-chain USDS deployment and canonical bridge status require dedicated documented records. |
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| No regulatory notes have been added yet. | ||||
No regulatory notes have been added yet.
Evidence
Evidence
Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.| Source | Publisher | Source category | Provenance | Primary or secondary | Supported claims | Archive | Reliability |
|---|---|---|---|---|---|---|---|
| Sky.money page Published Not yet recorded | Sky.money | Official documentation or product page Canonical: Protocol Page | Subject-controlled source | Primary source | USDS, sUSDS, Sky Savings Rate, non-custodial access, yield disclaimers, US availability notes, and protocol/interface separation, Dai Sky Lifecycle Context, Protocol Asset Classification, Protocol Collateral Backing, Usdc Usds Conversion, Decentralized Governance, Non Custodial Interface Separation, Usds Protocol Asset Collateral System Conversion and Non Custodial Interface Separation | No archive recorded | High |
| sUSDS page Published Not yet recorded | Sky.money | Official documentation or product page Canonical: Product Page | Subject-controlled source | Primary source | sUSDS, Sky Savings Rate, USDS to sUSDS flow, liquidity, rate governance, and withdrawal context, Active Product, Sky Savings Rate, Current Access, Current Product Status | Archive index or wildcard | High |
| Sky Protocol developer docs Published Not yet recorded | Sky Ecosystem | Official documentation or product page Canonical: Developer Docs | Subject-controlled source | Primary source | USDS, sUSDS, stUSDS, DAI, bridge, chainlog, and protocol documentation entry point | No archive recorded | High |
| Sky Ecosystem GitHub Published Not yet recorded | Sky Ecosystem | Technical documentation or repository Canonical: Repository Index | Technical primary source | Primary source | Sky Ecosystem code repository index | No archive recorded | High |
| Sky info dashboard Published Not yet recorded | Sky Ecosystem | Data or market reference Canonical: Analytics Dashboard | Data or market aggregator | Secondary source | Sky ecosystem information and analytics entry point | No archive recorded | Medium |
| Sky Protocol Launch Season: Token and Product Launch Parameter Proposal Published 2024-09-06 | Sky Governance | Governance record Canonical: Official Governance Proposal | Governance primary source | Primary source | Launch Date, Product Activation, Sky Savings Rate, Lineage, Susds Product Launch and Activation Date | Archive index or wildcard | High |
Known unknowns
Known unknowns and coverage
Missing or disputed facts remain visible instead of being converted into certainty.| Topic | What remains unclear | Value state | Priority | Last checked |
|---|---|---|---|---|
| Dai Usds Upgrade Path | The exact lifecycle relationship between DAI and USDS, including upgrade, conversion, reversibility, app flow, and any future migration changes, needs source-specific protocol documentation before final lifecycle treatment. | Unknown after review | Medium | 2026-06-05 |
| Susds Relationship | sUSDS is a related savings token and should not be merged into the USDS stablecoin record. Exact mint, withdrawal, rate, liquidity, and contract behavior need dedicated documented treatment. | Unknown after review | Medium | 2026-06-05 |
| Collateral Composition | USDS collateral composition, protocol exposure, reserve-style reporting, and how these relate to legacy MakerDAO or current Sky disclosures need exact protocol and dashboard sources. | Unknown after review | Medium | 2026-06-05 |
| Rates and Governance | Sky Savings Rate and related rates can change through protocol governance. Current rates, governing modules, and effective dates should not be represented as static guaranteed product terms. | Unknown after review | Medium | 2026-06-05 |
| Chain Contracts | USDS, sUSDS, stUSDS, bridge, and chain-by-chain contract references need exact developer-doc, chainlog, or verified explorer sources before final addresses are displayed. | Unknown after review | Medium | 2026-06-05 |
| Interface Availability | Sky.money interface access, regional availability, USDS product availability, and protocol access should be separated because interface restrictions do not necessarily equal protocol unavailability. | Unknown after review | Medium | 2026-06-05 |
Dai Usds Upgrade Path
The exact lifecycle relationship between DAI and USDS, including upgrade, conversion, reversibility, app flow, and any future migration changes, needs source-specific protocol documentation before final lifecycle treatment.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Susds Relationship
sUSDS is a related savings token and should not be merged into the USDS stablecoin record. Exact mint, withdrawal, rate, liquidity, and contract behavior need dedicated documented treatment.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Collateral Composition
USDS collateral composition, protocol exposure, reserve-style reporting, and how these relate to legacy MakerDAO or current Sky disclosures need exact protocol and dashboard sources.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Rates and Governance
Sky Savings Rate and related rates can change through protocol governance. Current rates, governing modules, and effective dates should not be represented as static guaranteed product terms.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Chain Contracts
USDS, sUSDS, stUSDS, bridge, and chain-by-chain contract references need exact developer-doc, chainlog, or verified explorer sources before final addresses are displayed.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Interface Availability
Sky.money interface access, regional availability, USDS product availability, and protocol access should be separated because interface restrictions do not necessarily equal protocol unavailability.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Lifecycle
History
Current classification remains separate from dated changes and incidents.Model and lifecycle changes
| Date | Event | Category | Subtype | Status effect | Recovery |
|---|---|---|---|---|---|
| 2024-08-27 | USDS launch and Sky transition context | Launch and introduction | Launch | No lifecycle change | Not applicable |
Related records and corrections
Corrections and further reading
Open connected records, methodology, machine-readable data, or report a correction.Use these explainers to compare the legal, regulatory, reserve, redemption, or distribution questions connected to this record.
After MiCA: Which Stablecoins Can Europeans Actually Use?
A reviewed guide to EU/EEA stablecoin access, separating issuer status, platform state, customer scope, product functions, direct mint and redemption routes, payment rails, supported networks, and dates.
GENIUS Act and Stablecoins
A beginner-friendly guide to the U.S. payment-stablecoin law, its implementation timeline, and the questions it creates for representative dollar stablecoins.
MiCA and Stablecoins
A beginner-friendly guide to EU stablecoin rules, the 2026 CASP transition deadline, and the different questions facing representative dollar, euro, and protocol-issued assets.
UK Stablecoin Rules: Capital Is Not Backing
What the reported cut from a 2% to 1% issuer-capital requirement means, why it does not halve stablecoin backing, and how the FCA and Bank of England regimes differ.
- All stablecoinsCompare this record with the rest of the archive.
- MakerDAO / SkyUnknown or not publicly resolved
- Event registry1 connected event recorded.
- MethodologyRead classification, evidence, and value-state rules.
- CorrectionsReport a source, relationship, or record problem.
- Data manifestInspect the machine-readable public layer.