Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Ethereum Price Gathers Strength — Bulls Prepare for Upside Extension

04/07/2025

Hong Kong’s Legendary Education Group Announces Bold $3.82M Crypto Investment Plan

04/07/2025

Cardano Set to Launch Bitcoin DeFi Integration on May 27, Targeting DeFi Growth

04/07/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Sell Bitcoin or Hold? Sobering Economic Model by Investor Fred Krueger

    04/07/2025

    What to Expect in Bitcoin in June? Expert Analysts Share Their Predictions

    04/07/2025

    Bitcoin Rebounds Above $104,300 as Tariff Chaos Triggers Nearly $1B in Liquidations

    04/07/2025

    Gold Reasserts Safe Haven Status, But Bitcoin’s Path May Be Brighter: Analysts

    04/07/2025

    Ethereum Price Gathers Strength — Bulls Prepare for Upside Extension

    04/07/2025

    Ethereum Liquid Staking Hits New ATH With 35.5 Million ETH Locked – Will Price Follow?

    04/07/2025

    SharpLink Gaming Makes Bold $4.82M Ethereum Investment, Reinforcing Massive Digital Asset Strategy

    02/07/2025

    Unveiling the Crucial Impact of a $39.8M Coinbase Prime Transfer

    02/07/2025

    Cardano Set to Launch Bitcoin DeFi Integration on May 27, Targeting DeFi Growth

    04/07/2025

    Animoca Brands invests in Astar to grow Sony-linked blockchain ecosystem

    04/07/2025

    What’s New in Berachain’s RFRV Batch 8 This Week

    04/07/2025

    SUI TVL Rises as Microsoft Integration Sparks Institutional Momentum

    04/07/2025

    Art Blocks’ PostParams Enable a New Medium for Generative Art

    03/07/2025

    Researchers Use AI to Reconstruct 3,000-Year-Old Babylonian Hymn

    02/07/2025

    Ubisoft Adds AI Agents to ‘Captain Laserhawk’ Game That Vote and Govern

    01/07/2025

    Donald Trump Made His New Move Concerning Memecoin TRUMP!

    01/07/2025

    Ethereum Price Gathers Strength — Bulls Prepare for Upside Extension

    04/07/2025

    Hong Kong’s Legendary Education Group Announces Bold $3.82M Crypto Investment Plan

    04/07/2025

    Cardano Set to Launch Bitcoin DeFi Integration on May 27, Targeting DeFi Growth

    04/07/2025

    PlayZap Games Joins Forces with DeFi Cattos to Offer Cutting-Edge Gaming via Aptos

    04/07/2025
  • Blockchain

    Terminus Joins Forces with WizoLayer to Merge Real-World Payments and Web3

    04/07/2025

    JPMorgan unit developing blockchain-based platform to tokenize carbon credits

    04/07/2025

    Ice Open Network Partners XCOIN Network to Integrate VSwap for Seamless Crypto Experience

    04/07/2025

    Vitalik slams fake decentralization in crypto, says founders build ‘straw houses’

    04/07/2025

    Moca Chain Integrates zkMe as Chief Issuer for Financial and Demographic Credentials

    04/07/2025
  • DeFi

    DeFi Enters New Era as Injective Debuts High-Speed Testnet Making it the Only L1 With Unified VM Layer

    04/07/2025

    Multi-Token Swaps Go Live as Burve Debuts on Berachain

    04/07/2025

    Solana Treasury Firm Expands SOL Holdings and Staking Strategy With $2.7M Purchase

    04/07/2025

    Zilliqa Leads with 41% Surge

    04/07/2025

    Justin Hyun on Building Affluent’s DeFi Super‑App in Telegram

    04/07/2025
  • Metaverse

    Microsoft’s AI Diagnoses Like House, Bills Like Costco

    02/07/2025

    Mark Zuckerberg Unveils New Meta AI Lab After Poaching OpenAI Talent

    01/07/2025

    Can China’s MiniMax-M1 AI Topple US Rivals? We Put It to the Test

    28/06/2025

    Meta and OpenAI Use of Copyrighted Books for Training AI Was Fair Use: Federal Judge

    26/06/2025

    How to Get Your Chatbot to Talk Dirty

    18/06/2025
  • Regulation

    Hong Kong’s Legendary Education Group Announces Bold $3.82M Crypto Investment Plan

    04/07/2025

    MicroStrategy director quietly dumps all his MSTR shares

    04/07/2025

    Tokenized US Treasuries Grow by $340M in Just Under Three Weeks

    04/07/2025

    Dow Jones inches up, S&P 500, Nasdaq gain as Trump pressures Fed

    04/07/2025

    Crypto Is the Future, Says CEO of $1.5 Trillion Financial Giant

    04/07/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Top Optimism DEX Velodrome Launches On-Chain Swap Infra for Superchain

    03/07/2025

    new era for derivative trading on onchain wallet

    03/07/2025

    FTX Reveals Next Repayment Date to Fully Compensate Large Creditors

    03/07/2025

    Gate Surpasses 30 Million Global Users, Accelerating Its Rise as the Next-Generation Crypto Exchange

    03/07/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    PlayZap Games Joins Forces with DeFi Cattos to Offer Cutting-Edge Gaming via Aptos

    04/07/2025

    EverQuest, Planetside Co-Creator Reveals Open-World Shooter Game ‘Reaper Actual’

    03/07/2025

    Former Riot, Blizzard Game Developers Raise $30.5M to Build AAA Shooter on Etherlink, Tezos L2

    03/07/2025

    Floki’s Valhalla to Take Over Delhi NCR with Real World Campaign

    03/07/2025

    CleanSpark’s Tennessee expansion boosts stock 11% amid local unrest

    03/07/2025

    What Are Bitcoin Miners Waiting For?

    02/07/2025

    MARA Bitcoin Production Slides 25% as Mining Environment Toughens

    02/07/2025

    Bitcoin Network Hashrate Declined in June as Miners Reacted to Recent Heatwave: JPMorgan

    01/07/2025

    Why the XRP Legal Battle Still Isn’t Officially Over

    03/07/2025

    Senate Passed Trump’s “Big, Beautiful Bill” With 51-49 Vote

    03/07/2025

    Ripple’s post-2018 XRP sales to institutional buyers don’t violate SEC conditions

    02/07/2025

    New Developments Regarding the Fate of Terra (LUNA) Founder Do Kwon – There May Be a Glimmer of Hope, Here Are the Critical Dates

    02/07/2025

    Ethereum Price Gathers Strength — Bulls Prepare for Upside Extension

    04/07/2025

    Hong Kong’s Legendary Education Group Announces Bold $3.82M Crypto Investment Plan

    04/07/2025

    Cardano Set to Launch Bitcoin DeFi Integration on May 27, Targeting DeFi Growth

    04/07/2025

    PlayZap Games Joins Forces with DeFi Cattos to Offer Cutting-Edge Gaming via Aptos

    04/07/2025
  • MarketCap
NBTC News
Home»DeFi»Sky Reports Over 1 Billion USDS Minted Since August Rebrand
DeFi

Sky Reports Over 1 Billion USDS Minted Since August Rebrand

NBTCBy NBTC06/10/2024No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


It’s been approximately 38 days since Makerdao, the decentralized finance (defi) project, rebranded as Sky and launched both the USDS stablecoin and the SKY token. During this time, more than a billion USDS coins have been minted, and 530 million DAI have been converted to the new standard.

Makerdao Sees 530 Million DAI Upgraded Since Sky Transition

As of Oct. 4, 2024, Sky, previously known as Makerdao, has accumulated 605,106 users and holds $12.59 billion in total value locked. The project’s foundation dates back to 2014, when Danish entrepreneur Rune Christensen established its concept.

However, the lending protocol and its DAI stablecoin didn’t officially go live until late 2017. At the close of August 2024, the project transitioned to Sky, unveiling its new governance token alongside the USDS stablecoin.

At that time, Bitcoin.com News reported that USDS could be exchanged for Makerdao’s DAI token at a 1:1 ratio. It was also mentioned that USDS could be utilized to earn yield. According to Sky’s website, the Sky Savings Rate (SSR) stands at 6.25%, accompanied by a disclaimer.

The disclaimer clarifies that the SSR is “variable and determined by the decentralised Maker/Sky Ecosystem onchain governance and is configured on the Ethereum blockchain.” Sky states that the SSR, represented as an expected compounded annual rate, is designed to automatically refresh every five minutes.

This process relies on data sourced from the third-party provider Blockanalitica. Alongside the $12.59 billion in total value locked (TVL), Sky also reports a circulating supply of 1,062,192,713 USDS.

It reveals that 530,207,401 DAI has been upgraded so far. Currently, the DAI supply is approximately $5 billion, according to data from Artemis Terminal and Defillama.com. Other coin market cap aggregation platforms, however, lack up-to-date information on both DAI and USDS supplies.

Sky’s transition from Makerdao reflects the ongoing shifts in the defi ecosystem, where projects continuously evolve to stay competitive. The introduction of a new token and stablecoin with yield opportunities, alongside updated governance models, signals an emphasis on adaptability. As the Sky and USDS move forward, their trajectory will be closely watched, especially regarding their impact on defi and stablecoin markets.

What do you think about the USDS minted so far? Let us know what you think about this subject in the comments section below.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

DeFi Enters New Era as Injective Debuts High-Speed Testnet Making it the Only L1 With Unified VM Layer

04/07/2025

Multi-Token Swaps Go Live as Burve Debuts on Berachain

04/07/2025

Solana Treasury Firm Expands SOL Holdings and Staking Strategy With $2.7M Purchase

04/07/2025

Zilliqa Leads with 41% Surge

04/07/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Ethereum Price Gathers Strength — Bulls Prepare for Upside Extension

04/07/2025

Hong Kong’s Legendary Education Group Announces Bold $3.82M Crypto Investment Plan

04/07/2025

Cardano Set to Launch Bitcoin DeFi Integration on May 27, Targeting DeFi Growth

04/07/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.