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Sky

Stablecoin · SKY

NetworkStablecoinCreditDecentralized CDPYield-Bearing6 coinsUnverified

Sky (formerly MakerDAO) is the largest decentralized stablecoin issuer, managing USDS, sUSDS, legacy DAI, stUSDS, and the SKY governance token.

Stablecoins aren't built to sit still.

USDS + DAI supply

$426.8M

+0.3% 24h

Latest data · 15 min delay

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Risks identified

  • Collateral

    Collateral quality risk across diversified Maker/Sky vault types.

  • Reserve / Depeg

    Depeg risk on USDS/DAI under collateral stress or liquidity events.

  • Smart Contract

    Smart-contract risk in core protocol and integrations (Pendle, Morpho, bridges).

  • Counterparty

    Integration and counterparty risk on external vaults and bridges.

  • Governance

    Governance risk on Sky Savings Rate and risk parameters; liquidation risk on staked-SKY borrow positions.

  • Network

    Bridge risk for USDS/sUSDS deployments beyond Ethereum.

Research agent