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!
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.
Spark has deployed 5 million USDS into Aaveâs Lido market through a new Skyâs 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!
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
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:
âą WBTC Vault Stability Fees will increase: WBTC-A to 9.25%, WBTC-B to 9.75%, and WBTC-C to 9%.
âą The Dai Savings Rate will decrease to 5.5%, and the Sky Savings Rate will increase to 6.5%.
âą 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 Aaveâs 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 Aaveâs 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:
âą The liquidation penalty for WBTC-A, WBTC-B, and WBTC-C will drop to 0%.
âą The WBTC-A liquidation ratio will increase to 150% over 6 days.
âą 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.
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.
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:
âą WBTC-A: Increase Stability Fee from 7.75% to 9.25% âą WBTC-B: Increase Stability Fee from 8.25% to 9.75% âą WBTC-C: Increase Stability Fee from 7.5% to 9%
Dai Savings Rate and Sky Savings Rate:
âą Decrease Dai Savings Rate from 6% to 5.5% âą Increase Sky Savings Rate from 6.25% to 6.5%
SparkLend Effective Borrow Rate:
âą 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.
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 theyâre 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 â USDS and MKR â SKY upgrades, Sky Savings Rate, Sky Token Rewards, TVLs, and more.