Information, not investment advice. Facts are copied from cited issuer and regulator documents with retrieval dates; anything we could not verify is marked unknown. Nothing here is a recommendation, ranking, or eligibility determination about you.
USD stablecoin. Issuer: Sky Protocol (decentralized; successor to MakerDAO). Official page. 9 fields verified, 7 unknown, 0 disputed.
As of 2026-10-25, who can invest for USDS: Anyone via on-chain converter (DAI<->USDS), per Sky.
As of 2026-10-25, we could not confirm this for USDS in an issuer or regulator document.
As of 2026-10-25, redemption settlement for USDS: Atomic on-chain, per Sky.
As of 2026-10-25, subscription / mint fee for USDS: 0 (DAI->USDS converter; fees cannot be enabled), per Sky.
As of 2026-10-25, reserve / holdings report type for USDS: On-chain collateral (no fiat reserve attestation), per Sky.
9 of 16 fields on this page are confirmed in an issuer or regulator document. Unknown fields were not stated in the documents below (checked 2026-10-25). We do not fill gaps from aggregators.
| Field | Value | Status | Source | Note |
|---|---|---|---|---|
| Issuer | Sky Protocol (decentralized; successor to MakerDAO) | verified | Sky, retrieved 2026-10-25 | |
| Product type | Crypto-collateralized decentralized stablecoin (ERC-20, upgradeable UUPS proxy) | verified | Sky, retrieved 2026-10-25 | |
| Regulator | Unknown | unknown | No regulated issuer; not a GENIUS permitted payment stablecoin issuer as far as reviewed | |
| Blockchains | Unknown | unknown | Not yet confirmed in an issuer or regulator document (checked 2026-10-25) | |
| Open to US persons (per issuer) | Unknown | unknown | Not found in public issuer documents reviewed | |
| Who can invest | Anyone via on-chain converter (DAI<->USDS) | verified | Sky, retrieved 2026-10-25 | |
| KYC required | No | verified | Sky, retrieved 2026-10-25 | DAI-USDS converter has no additional restrictions |
| Minimum initial investment | Unknown | unknown | Not found in public issuer documents reviewed | |
| Subscription / mint fee | 0 (DAI->USDS converter; fees cannot be enabled) | verified | Sky, retrieved 2026-10-25 | |
| Redemption fee | 0 (USDS->DAI converter) | verified | Sky, retrieved 2026-10-25 | |
| Redemption settlement | Atomic on-chain | verified | Sky, retrieved 2026-10-25 | |
| Redemption limits or gates | Unknown | unknown | No issuer fiat redemption | |
| Circulating supply (issuer report or issuer contract) | USD 6,803,276,292 as of 2026-10-25 | verified | Sky chainlog (contract registry), retrieved 2026-10-25 | totalSupply() of the USDS contract 0xdC035D45d973E3EC169d2276DDab16f1e407384F (address from Sky's chainlog), read on-chain at Ethereum block 26273872 (2026-10-25 22:27 ET). Ethereum only; bridged amounts on other chains are not added. |
| Reserve / holdings report type | On-chain collateral (no fiat reserve attestation) | verified | Sky, retrieved 2026-10-25 | |
| Latest reserve / holdings report | Unknown | unknown | Not stated in Sky documents checked 2026-10-25 | |
| Report as-of date | Unknown | unknown | Not found in public issuer documents reviewed |