Sky

**Sky Ecosystem has deployed USDS and sUSDS natively on Avalanche** through its proprietary Skylink bridge infrastructure, eliminating the need for third-party bridges that previous stablecoin expansions required. **Phased Rollout Timeline:** - April 13: Avalanche bridge launched with 5M daily transfer cap (both directions) - April 27: Caps increase to full initial deployment capacity - Q2 2026: Native USDS to sUSDS conversions directly on Avalanche Grove Finance pioneered the first direct transfers from Ethereum Mainnet to Avalanche using this new infrastructure. The daily transfer limit applies system-wide across all participants and protocols, set by Sky governance.

SKY and USDS tokens are now available for trading on Upbit, one of South Korea's largest cryptocurrency exchanges. **Key Details:** - Trading pairs include Korean Won (KRW) and USDT markets - Upbit is a leading exchange platform in the South Korean market - The listing follows USDS reaching a new all-time high - Multiple major exchanges have recently added support for the DAI to USDS upgrade This expansion marks a significant step in Sky Ecosystem's presence in the Asian market, providing Korean traders direct access to both tokens through local currency pairs.

**Sky token holders control the Sky Savings Rate through governance votes**, adjusting it based on the protocol's revenue capacity rather than market forces. **Key differentiator:** - Unlike typical DeFi yield products, Sky's rate doesn't fluctuate with borrowing demand or lending utilization - Governance-driven approach provides more predictable rate setting **Recent adjustment:** - Rate decreased 25 basis points to 3.75% (from 4%) - Change reflects broader shifts in SOFR, DeFi rates, and funding markets - Protocol maintains the rate remains competitive despite reduction This governance model represents a departure from algorithmic rate-setting common in DeFi lending protocols.

Morpho has launched two new products for Sky's USDS ecosystem: **USDS Vault** - Now live on Ethereum - Accessible at [app.morpho.org](https://app.morpho.org/ethereum/vault/0xf42bca228D9bd3e2F8EE65Fec3d21De1063882d4/skymoney-usds-risk-capital) **stUSDS/USDS Market** - Enables leveraged stUSDS positions - Users can supply stUSDS, borrow USDS, and loop back into stUSDS - Increases exposure to stUSDS yields - Available at [app.morpho.org](https://app.morpho.org/ethereum/market/0x77e624dd9dd980810c2b804249e88f3598d9c7ec91f16aa5fbf6e3fdf6087f82/stusds-usds?subTab=activity) **Launch Incentives** - 30,000 USDS allocated for USDS suppliers during launch week The integration allows stUSDS holders to amplify their positions through borrowing and re-staking strategies.

**Sky Protocol** significantly ramped up its token buyback program in November, purchasing **154 million SKY tokens** using 7.8 million USDS. This represents a major increase from the previous week's 40.5 million SKY buyback using 1.9 million USDS. **Key metrics:** - Total program buybacks now exceed **88 million USDS** - November's activity shows accelerated pace - All buybacks follow decentralized mechanism The buyback program operates through Sky Protocol's **Smart Burn Engine**, with parameters defined in the Sky Atlas and approved by Sky Ecosystem Governance. View real-time buyback activity at [Sky Protocol's dashboard](https://info.sky.money/buyback/activity/)

Sky Protocol has deployed a **new USDS/stUSDS pool** on Curve Finance with **500,000 USDS in incentives** distributed over three months to liquidity providers. **Key Changes:** - New pool functions as the **intended discount market** for stUSDS - Old sUSDS/stUSDS pool will now provide **boosted rewards** on top of stUSDS - Configuration fix addresses previous liquidity depth issues **Pool Details:** - New USDS/stUSDS pool: [Curve Link](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-628/deposit) - Address: 0x2C7C98A3b1582D83c43987202aEFf638312478aE - Old pool continues with enhanced rewards The deployment was **authorized by Sky Atlas** following governance voting. The Core Council may take additional actions to improve stUSDS liquidity conditions as needed. *All funds remain safe and users can withdraw anytime from existing pools.*

**Sky Protocol** executed another weekly buyback, spending **0.7 million USDS** to purchase **9.43 million SKY** tokens. This brings the protocol's **total buybacks to nearly 77 million USDS** since the program launched. Key details: - Buybacks operate through a **decentralized mechanism** - Parameters are governed by **Sky Ecosystem Governance** - Full specifications available in the [Sky Atlas](https://sky-atlas.powerhouse.io/A.3.6_Surplus_Buffer_and_Smart_Burn_Engine/c58d38dc-4b17-4c0a-a1df-546a06612c54|57ea) The systematic buyback program demonstrates Sky Protocol's commitment to **token value management** through governance-approved mechanisms. Track ongoing buyback activity at [info.sky.money](https://info.sky.money/buyback/activity/)

The Sky Protocol continues its systematic buyback program, using 1.4 million USDS to purchase 16.9 million SKY tokens last week. The total buyback has now reached **1.12 billion SKY tokens** since the program's inception. The protocol maintains strong performance with: - Over $100M in estimated annual revenue - Average daily buybacks of $250K - Total buyback value of approximately $80M The buyback mechanism operates through decentralized parameters defined in the Sky Atlas and approved by Sky Ecosystem Governance. For more details: [Sky Atlas Documentation](https://sky-atlas.powerhouse.io/A.3.6_Surplus_Buffer_and_Smart_Burn_Engine/c58d38dc-4b17-4c0a-a1df-546a06612c54)

Sky Ecosystem reports significant growth in July 2025: - TVL increased 66% from $900M to $1.5B - USDS supply grew 8.2% to $7.5B - SKY staking reached $800M with 15% annual rewards - Protocol revenue hit 2025 high of $230M - Treasury peaked at $1.21B - SKY buybacks exceeded 3% of total supply - MKR to SKY upgrade passed 56% completion Key driver: SPK rewards program attracted major inflows, with USDS supplied growing from 400M to 1.3B. View real-time metrics at [Sky Analytics Dashboard](http://info.sky.money)

Current USDS yield opportunities on Ethereum show promising returns: - Yearn Finance USDS Vault leads with ~19% APY - Yearn Finance Sky Rewards offering ~8.9% - Beefy Finance Moo Sky USDS at ~8.7% - Compound Finance USDS providing ~7.6% These rates have remained stable since early August. For comparison, July rates across different chains ranged from 4.5% to 11.4%. Check current rates across all chains at [Vaults.fyi](https://analytics.vaults.fyi/vaults?selectedTokens=USDS)