DeFi Saver, a well-known platform for DeFi management, has recently announced the integration of Sky Protocol. Sky Protocol mentioned that the integration takes into account support for $SKY, $USDS, as well as Sky-Protocol features at its launch on the 18th of September, marking a key development facilitating both Sky Protocol and DeFiSaver.
.@DeFiSaver has announced support for USDS, SKY, and Sky Protocol features, available at launch on 18 September! https://t.co/iPqCPaclPe
— Sky (@SkyEcosystem) September 13, 2024
DeFi Saver and Sky Protocol Integrate to Provide Support for SKY and USDS
In its latest X post, Sky Protocol disclosed that the respective integration signifies the promotion of exclusive functionalities for consumers. Additionally, it also contributes to expanding the potential regarding financial solutions in the decentralized sector. DeFi Saver, which started as an app “CDPSaver.” This app focused particularly on MakerDAO which is now being renamed to Sky. It has reportedly advanced over the years, expanding paralleled to Maker, a chief primary protocol in decentralized finance.
Therefore, the decision of DeFi Saver to back Sky Ecosystem and coins appears an impending logical move in its evolution. The launch of Sky Protocol on DeFi Saver reportedly brings several unique features. They align with the mission of DeFi Saver to modernize DeFi management. A chief feature of the new integration takes into account the addition of USDS. It is a stablecoin that is pegged to the USD.
The Support for USDS Offers Additional Flexible Options Concerning Trading, Borrowing, and Lending
Stablecoins play a significant role in decentralized finance by offering predictability and stability in a market that is otherwise seen as volatile. USDS will provide additional flexible options in the case of trading, borrowing, and lending. Simultaneous to USDS, Sky Protocol’s local token will additionally witness support. USDS token works as an integral part of the operation and governance of the Sky Ecosystem. According to Sky, DeFi Saver will also provide migration instruments for $MKR and $DAI along with backing $SKY and $USDS.