USDS Novice

Ho Chi Minh City, Vietnam, 29th November 2024, Chainwire

USDS debuts as Solana's first DeFi-native stablecoin, boosting lending, trading, and liquidity with significant rewards for early adopters.

Solana traders are quickly embracing the newest stablecoin to join their decentralized finance (DeFi) fray: USDS, issued by Sky (formerly MakerDAO).

Sky, which was previously known as Maker, deployed its USDS stablecoin on Solana to tap into the blockchain's DeFi ecosystem.

The DeFi project Sky has retained its new brand identity rather than revert to MakerDAO following a community vote. Polling data revealed that 79.3% of votes supported maintaining the Sky brand as the core protocol name. In contrast, about 18.46%...