Sky, the DeFi lending protocol previously known as Maker, has just launched the USDS stablecoin on the Solana blockchain. 🚀

USDS is introduced as the first major DeFi stablecoin on Solana, opening up new opportunities for lending and trading on top DeFi platforms. Sky emphasizes that this is the first step in the strategy to increase liquidity and TVL for Solana.

USDS is integrated on Solana thanks to Wormhole’s Native Token Transfer, allowing for cross-chain operations without the need for wrapped tokens. Sky also rewards users and liquidity providers with millions of USDS on Solana’s DeFi platforms.

USDS is currently the third largest stablecoin with a market capitalization of $5.24 billion. 🌐