Join @RuneKek and the Sky community for a Spaces discussion on the first month since Sky's launch and what's next.

Don't miss the opportunity to share your thoughts!

https://x.com/i/spaces/1lDxLlReRMZxm

After the launch of the decentralized Sky Protocol and USDS, @RuneKek has shared momentum stats for the USDS stablecoin, along with new proposals in the Sky forum outlining three key areas for consideration moving forward.

As part of the decentralized community, feedback is encouraged. Take a moment to check out the proposal and join the discussion!

Proposal link in the next tweet.

Save USDS.

Head to Save, supply your USDS to the Sky Savings Rate, and start growing your savings right away through a decentralized system that has successfully secured billions of dollars for years.

Upgrade your MKR to SKY

Use the Upgrade feature to convert your MKR to SKY at a rate of 1 MKR → 24,000 SKY.

Upgrading is optional, and you can convert your SKY back to MKR anytime.

Spark has deployed 5 million USDS into Aave’s Lido market through a new Sky’s USDS Direct-Deposit Module.

The module has been initialized with a 100 million USDS maximum allocation, designed to scale as liquidity demand increases and enable more competitive rates for USDS at larger volumes.

Additionally, USDS suppliers on Aave can now earn SPK and USDS rewards!

New USDS and SPK rewards are live for USDS suppliers on Aave!

• 50,000 USDS will be allocated weekly to bootstrap rewards and will then adjust to match at least the sUSDS rate, currently at 6.5%.

• 3.33 million SPK pre-farming airdrop allocation is distributed on a monthly basis.

Get Sky Token Rewards.

Got USDS? Awesome.

Head to Sky Token Rewards and choose between SKY tokens or @ChronicleLabs points.

The Sky Savings Rate has increased to 6.5%, providing Sky app users with higher USDS rewards through the decentralized Sky Protocol, all while maintaining full control over their assets. https://x.com/SkyEcosystem/status/1843446519946772764/photo/1

The following parameter changes have been deployed in the decentralized Sky Protocol after the latest Executive Vote:

• WBTC Vault Stability Fees increased: WBTC-A to 9.25%, WBTC-B to 9.75%, and WBTC-C to 9%

• The Sky Savings Rate increased to 6.5%

• The Dai Savings Rate decreased to 5.5%

• The Effective DAI Borrow Rate on SparkLend decreased to 6.5%

A new Sky Executive Vote is now live. If passed, the proposed changes to the Sky Protocol will take effect 16 hours after approval by the Sky ecosystem governance, impacting users as follows:

Changes to the Stability Fee, DAI Borrow Rate on Spark, and Savings Rate:

• WBTC Vault Stability Fees will increase: WBTC-A to 9.25%, WBTC-B to 9.75%, and WBTC-C to 9%.

• The Dai Savings Rate will decrease to 5.5%, and the Sky Savings Rate will increase to 6.5%.

• The Effective DAI Borrow Rate on SparkLend will decrease to 6.5%.

Final LITE-PSM-USDC-A Migration (Phase 3)

As submitted by @BlockAnalitica, this vote will complete the LitePSM implementation. All USDC reserves will be migrated to LITE-PSM-USDC-A, which will offer more transaction capacity with no fees (tin and tout remain at 0%). The old PSM-USDC-A will be phased out. This change aims to provide smoother, fee-free access to USDC liquidity.

Activation of Aave Lido Market Spark USDS Direct Deposit Module (DDM)

After onboarding USDS to Aave v3, Sky governance will vote to inject 100 million USDS into Aave’s Lido market via Spark. Aave users will have immediate access to 50 million USDS, with a 24-hour cooldown for additional borrowing.

This move aims to provide better borrowing rates and enhance liquidity in Aave’s Lido market.

WBTC-A, WBTC-B, and WBTC-C Liquidation Parameter Updates

If approved, the following risk mitigation changes will apply to WBTC Legacy Vaults:

• The liquidation penalty for WBTC-A, WBTC-B, and WBTC-C will drop to 0%.

• The WBTC-A liquidation ratio will increase to 150% over 6 days.

• The WBTC-B liquidation ratio will rise to 150% over 6 days.

These changes reduce liquidation costs while tightening risk controls.

If this Executive Vote passes, the updates will take effect 16 hours after the GSM Pause Delay. Note that this proposal includes an office-hours modifier and can only be executed between 14:00 and 21:00 UTC, Monday through Friday.

sUSDS: non-custodial saving rewards.

When you supply USDS to the decentralized Sky Savings Rate (SSR) module, you receive sUSDS.

These sUSDS tokens are the digital record of your supplied USDS and automatically accumulate your earned rewards, in accordance with the current SSR decided by Governance.

When you choose to redeem your sUSDS for USDS, which you can do anytime, the total USDS you will receive will equal the amount you originally supplied, plus any additional USDS accumulated as rewards.

USDS is now live on Aave's v3 Ethereum Main and Lido pools. https://x.com/SkyEcosystem/status/1841536151485612169/video/1

As submitted by @BlockAnalitica through the Sky forum, an upcoming Sky Executive Vote will include the following parameter changes to the Sky Protocol:

Stability Fee Changes for Core Vaults:

• WBTC-A: Increase Stability Fee from 7.75% to 9.25%
• WBTC-B: Increase Stability Fee from 8.25% to 9.75%
• WBTC-C: Increase Stability Fee from 7.5% to 9%

Dai Savings Rate and Sky Savings Rate:

• Decrease Dai Savings Rate from 6% to 5.5%
• Increase Sky Savings Rate from 6.25% to 6.5%

SparkLend Effective Borrow Rate:

• Decrease the Spark Effective DAI Borrow Rate from 7% to 6.5%

These changes will take effect if approved by Sky Governance in an upcoming Executive Vote. Stay informed on the latest Sky Ecosystem governance updates by following this X account.

USDS supply has reached 1 billion 13 days after launch! https://x.com/SkyEcosystem/status/1841154592962150747/photo/1

Take a trip back to the highlights of the Sky Launch Party in Singapore! https://x.com/SkyEcosystem/status/1841100293230006423/video/1

Upgrade to USDS, and get rewarded for saving without giving up control.

Use the Upgrade feature to convert your DAI to USDS at a 1:1 rate, unlocking all the new features within the Sky Ecosystem, including Sky Token Rewards and the Sky Savings Rate.

Upgrading is optional, and you can convert your USDS back to DAI anytime.

Transparency is one of DeFi's greatest strengths, enabling real-time insights for users to understand the status of what they’re using.

Powered by @BlockAnalitica, the Sky Risk & Analytics Dashboard fulfills this purpose for the Sky Protocol, displaying real-time key metrics like DAI and USDS supply, DAI → USDS and MKR → SKY upgrades, Sky Savings Rate, Sky Token Rewards, TVLs, and more.

Looking to integrate with the Sky Protocol? Learn more about the First Wave Integrator Program and what it offers ↓

USDS has surpassed 500 million in supply!

Over 400 million USDS in total supply!