The Sky -Ecosystem voted on changing the savings for USDS, because Stablecoins increase their competition for predictable returns. The Defi -Hub will change different parameters to stimulate the acceptance of the Hemelecosystem and reward everyone who has exchanged their MKR and DAI tokens.
The Defi Lending Ecosystem Sky, formerly Maker Dao, voted for lowering the USDS saving money to 8.75%.
Sky Governance has approved a decrease in the savings from the air to 8.75%, planned for execution on 10 February at 14:00 UTC. pic.twitter.com/ist7cot4xv
– Sky (@skyecosystem) 7 February 2025
Earlier, the Sky Ecosystem offered 12.5% savings for placing USDs, which made it succeed in attracting $ 3 billion to assisted assets. Sky Dollar replaces Dai and is already wearing 3.75 billion tokens in circulation.
Both tokens are currently the same in their weight, although DAI is still being used in the Defi Ecosystem. There is no fixed deadline to go from Dai to USDS, and it is up to users and their choice for Defi and savings or other passive income opportunities.
Sky Ecosystem adapts to market conditions
Some of the proposed changes for the Sky Ecosystem reflected the market turbulence on 3 February. Earlier, the USDS savings were gradually increased by voices from the community, which the last three months of 2024 yielded on the basis of the rapid expansion of underlying assets such as ETH and BTCCTC.
During the slide of Ethereum (ETH) as low as $ 2,080, the Defi sector saw $ 313 million in liquidations, usually with Aave (Aave) and connection. ETH still shows weakness at $ 2,595.21, while Bitcoin (BTC) slid to the range of $ 95,000, which again endangers Defi -Kluizen and lending.
Sky and Spark protocol survived with much smaller liquidations, which influence several smaller safes. The biggest liquidations were for $ 2.58 million in Wsteth and $ 847.29k for Weth -computer, with the most borrowed assets in DAI and WBTC. Vaults that use ETH as collateral also lost more than $ 7.5 million in liquidations.
To risk most vaults, Sky has proposed changes for the stability costs, which reduces it for most of its safes. The DAI saving percentage will fall from 11.25% to 7.25%, while USDS already approved the correction from 12.5% to 8.75%.
The proposal was approved by 9 supporters, voting with 63,827 MKR, because it has become actively a governance. MKR has now returned to $ 909.02, the lowest level since 2021, which serves as a voice and administrative stips, without a role in lubricating Dai.
USDS is expanding its offer in the past month
USDS is the fastest growing stablecoin with revenue offers, only exceeded by USDT and USDC. In the past month, USDS added 2.1B tokens to its stock, while Dai remained unchanged.
USDS expanded its offer as a test on Solana, but the largest increase in extra peppermints on the basic ecosystem. For now, USDS has added more than $ 100 million in circulation to the basic ecosystem, with relatively small experimental safes. The coin was similar to the Solana -Experimental safe.
USDS is part of the Vaultsfyi app on the base, an app to view an example and gain access to credit tubes. Defi remains risky, usually because of the fluctuating value of collateral.
Base is now wearing $ 3.77 million to stablecoins, with an inflow of USDC, in addition to smaller algorithmic and assets -covered stablecoins.
Despite the aggressive expansion of the Sky ecosystem, the underlying Sky token acts in the vicinity of its lows. Sky is at $ 0.037, with few options for derivatives trade. The active is still based on Uniswap V3 for its price discovery, with more than 62% of the volumes that depend on Dex -Liquidity. In contrast to MKR, Sky is slow in determining its value. Moreover, Sky is also used for governance and is not bound by the value of the protocol.
Spark, the Maker’s subdao, currently has $ 2.75 billion in credit houses. The project is locked in 15th place based on the total value. Sky retains the Legacy status of maker, although it has left a leading Defi app.
