Sky (formerly Maker) protocol announced that starting September 18, eligible users can upgrade DAI to USDS at a 1:1 ratio, unlocking new features within the Sky ecosystem, including Sky Token Rewards and Sky Savings Rate.
As of 2024.9.23 5:00 (UTC), over **375m** $DAI has been converted to $USDS.
There are a few things to note when converting $DAI to $USDS:
The conversion of $DAI to $USDS is optional.
$DAI can continue to be used and no freeze function will be added.
$USDS has a freeze function option, and the issuer can freeze the $USDS token.
$USDS will not have a freeze feature at launch, but this feature can be upgraded later if the governing body decides to add it.
