USDS (USDS) Price

$1.00

USDS (USDS) Price Today

The live price of USDS is $1.00 USD. In the past 24 hours, the trading volume of USDS was $2.9M USD, with a change of -0.14%. The current live price of USDS has changed by -0.64% from its 7-day high of $1.00 USD and by +0.78% from its 7-day low of $0.99 USD. With a circulating supply of $8,011,397,398.97 USDS, the market cap of USDS is currently $7.8B USD, marking a +1.66% change in the last 24 hours. USDS currently ranks 9599 by market capitalization.

USDS (USDS) Market Data

Market Cap

$8B

24h Volume

$2.9M

Circulating Supply

8B USDS

Maximum Supply

Fully Diluted Market Cap

$8B

Liquidity Indicator

0.04%

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About USDS (USDS)

What Is USDS (USDS) and How Does It Work?

USDS (StableUSD) is the native stablecoin of the decentralized Sky Protocol, serving as a next-generation upgrade of MakerDAO’s DAI. It’s an ERC-20 token with permit functionality (EIP-2612) and UUPS-style upgradeability, designed to be minted and burned via a 1:1 DAI–USDS converter smart contract with no fees. Once minted, USDS can be supplied non-custodially into the Sky Savings Rate (SSR) to earn variable yields, used to access Sky Token Rewards (STR), or traded directly on supported platforms, all governed on-chain by the SKY token community.

When Was USDS Stablecoin Launched?

Sky Protocol traces its roots back to MakerDAO, which was founded by Rune Christensen in 2014. After seven years as one of DeFi’s flagship protocols, MakerDAO underwent an “Endgame” overhaul and rebranded to Sky in August 2024, upgrading its legacy tokens, DAI and MKR, to USDS and SKY, respectively.

USDS and its companion governance token SKY officially went live on September 18, 2024. On that date, holders of DAI and MKR could opt in to upgrade 1:1 to the new tokens via the Sky.money interface.

USDS Roadmap

1. August 27, 2024: MakerDAO announces rebrand to Sky and the forthcoming USDS and SKY tokens.

2. September 18, 2024: USDS and SKY launch on Ethereum as ERC-20 tokens with permit functionality (EIP-2612) and UUPS-style upgradeability.

3. November 19, 2024: Expansion to Solana, marking USDS as the first major DeFi-native stablecoin on that chain.

4. Q1 2025:

i. SkyLink (Alpha) on Base via Spark, enabling cheap, fast transactions.

ii. Activation module rollout for SKY holders to earn additional token rewards.

Iii. Continued deployment of Sky Stars (independent ecosystem projects) and iterative governance refinements under the Sky Atlas framework.

What Is USDS Token Used for?

USDS is the native stablecoin of the Sky Protocol, letting you hold a reliable dollar-pegged asset, earn rewards through the Sky Savings Rate (SSR) and Sky Token Rewards (STR), and mint or upgrade DAI 1:1, all via a non-custodial, on-chain gateway.

Head to Trade → Spot Trading, enter USDS/USDT in the search bar, and choose a market order for instant execution or a limit order to buy or sell at your target price.

How to Upgrade DAI to USDS

Here’s how you can upgrade your existing DAI into USDS, step by step:

1. Go to the Sky.money app: Open the Sky Money app and click Connect Wallet. Choose your Ethereum wallet (e.g., MetaMask or WalletConnect) and authorize the connection.

2. Navigate to the “Upgrade” widget: Once connected, select the Upgrade tab (sometimes labeled “Convert” in partner UIs). You’ll see two dropdowns: “From” and “To."

3. Select DAI → USDS: In “From” choose DAI, and in “To” choose USDS. The converter is 1:1 with no fees, so 1 DAI always becomes 1 USDS.

4. Enter the amount: Type in how much DAI you want to upgrade. The interface will show the equivalent USDS you’ll receive.

5. Approve DAI spending: Click Approve and confirm the DAI-approval transaction in your wallet. This on-chain permission lets the converter contract transfer your DAI.

6. Execute the upgrade: After approval, click Upgrade (or “Convert”) and confirm the mint transaction in your wallet. Once mined, your USDS will appear in your wallet.

7. Verify your balance: Refresh or check your wallet’s token list to see your new USDS balance. You can now use USDS to earn in the Sky Savings Rate, access Sky Token Rewards, or trade on supported platforms.

Tip: You can also convert back to DAI at any time, 1:1 with no fees, ensuring full fungibility between DAI and USDS.

What Is USDS Tokenomics?

USDS is an ERC-20 token with permit functionality (EIP-2612) and UUPS-style upgradeability. It’s fully backed 1:1 by DAI collateral surplus via a fee-free converter contract—DAI can be minted into USDS and burned back to DAI at any time, ensuring a soft peg to USD.

Since USDS has no max supply and no inflation schedule, its fully diluted valuation equals its circulating market cap at any given time. USDS has no pre-mine or token sale. All tokens are created on demand via the 1:1 DAI→USDS converter. This means every USDS in circulation corresponds to an equal amount of DAI collateral.

How to Earn Rewards with USDS Stablecoin

You can earn rewards with USDS in two main ways:

Sky Savings Rate (SSR): Supply your USDS into the non-custodial Sky Savings Rate module on Sky.money to accumulate extra USDS over time. When you deposit, you receive sUSDS tokens (an ERC-4626 vault share) that automatically grow in value as the protocol mints and distributes yield. There’s no minimum deposit and you can withdraw anytime—SSR is currently offering around 12.50% APR with over $1 billion TVL.

Sky Token Rewards (STR): Alternatively, lock your USDS into the Sky Token Rewards module to earn SKY governance tokens. Your rewards accrue based on your percentage share of the USDS pool, with rates set by on-chain governance. STR currently yields about 12.16% and holds roughly $273 million TVL, all distributed non-custodially so you remain in full control of your funds.

Is USDS Safe and Has It Been Audited?

USDS’s smart contracts have undergone multiple professional security assessments—most notably, a comprehensive audit by CertiK in early 2024 (publicly available via CertiK Skynet) and a prior reassessment by Verichains following the Ronin exploit. The protocol also publishes detailed risk disclosures (e.g., peg-stability and oracle-failure scenarios) in its user-risk documentation and employs continuous on-chain monitoring through CertiK Skynet, ensuring any vulnerabilities are identified and addressed promptly.

How to Securely Store USDS Tokens

For the highest security, hold most of your USDS in non-custodial, offline wallets. A hardware wallet like Ledger or Trezor keeps your private keys air-gapped, and you should always confirm you’re sending tokens to the official USDS contract address (via Sky.money or Etherscan). For more frequent access, use a reputable software wallet (e.g., MetaMask or Rainbow) protected by a strong passphrase and the latest updates. If you manage large balances, consider a multi-signature setup (such as Gnosis Safe) and store backup seed phrases in a secure, fire- and water-resistant location.

When you need on-exchange convenience, deposit USDS into your BingX Spot Wallet. In BingX, navigate to Assets → Deposit, select USDS on the Ethereum (ERC-20) network, and send tokens to the provided address. Once confirmed on-chain, your balance will appear in Spot. Then enable Two-Factor Authentication and Withdrawal Address Whitelisting in Security Settings so only approved devices can move funds. By keeping most of your holdings in cold storage and only a small amount on BingX, you combine strong protection with easy trading access.

USDS (USDS) Price Converter

USDS to USD

1 USDS = $ 1.00

USDS to VND

1 USDS = ₫ 25,976.18

USDS to EUR

1 USDS = € 0.88

USDS to TWD

1 USDS = NT$ 30.26

USDS to IDR

1 USDS = Rp 16,551.92

USDS to PLN

1 USDS = zł 3.76

USDS to UZS

1 USDS = so'm 12,976.41

USDS to JPY

1 USDS = ￥ 145.43

USDS to RUB

1 USDS = ₽ 82.53

USDS to TRY

1 USDS = ₺ 38.78

USDS to THB

1 USDS = ฿ 32.98

USDS to UAH

1 USDS = ₴ 41.62

USDS to SAR

1 USDS = ر.س 3.75

USDS Price Converter

How to Buy USDS (USDS)

Create & Verify Your Account

Create a free BingX account using your email or phone number, set a strong password, and complete identity verification (KYC) by submitting your personal details and a valid photo ID.

Fund Your Account

Choose a payment method—bank account, card, or more—to deposit funds into your BingX account.

Trade Now

Now that your account is funded, you can seamlessly trade USDS USDS and other cryptocurrencies while exploring BingX’s diverse trading features!

How to Buy USDS Guide

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Disclaimer:

Price analysis and valuation are influenced by multiple factors, and theoretical projections do not guarantee that a token will reach a specific price level. The information provided is for informational purposes only and does not constitute investment advice. Investors should conduct their own research before making any financial decisions.

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Trading cryptocurrencies and other financial instruments involves risks, including the potential for loss of funds. You should never trade more than you can afford to lose. Please be aware of the risks involved and seek independent financial advice if necessary.

For more detailed information, please refer to our Risk Disclosure Statement.

Disclaimer:

By accessing and using this platform, you agree to comply with our Terms of Use.

For more detailed information, please refer to our Risk Disclosure Statement.