USDS Overview
USDS is a collateral-backed stablecoin pegged to the US dollar, issued by Sky Protocol (formerly MakerDAO).
Current Price: $0.998 (-0.1% change in 24h)
Market Cap: $7.32B (0.21% of total crypto market)
Circulating Supply: 7.33B USDS (100% of total supply)
24h Trading Volume: $1.13M
👉 Track real-time USDS price fluctuations
What Is USDS?
USDS is a decentralized stablecoin designed to minimize volatility by maintaining a soft peg to the US dollar. Key features include:
- Collateral-Backed: Supported by crypto assets like ETH and USDC locked in Sky Protocol vaults.
- Governance: SKY token holders vote on protocol updates and collateral approvals.
- Utility: Used for trading, payments, and debt settlements within decentralized finance (DeFi).
How USDS Works
- Users deposit approved collateral (e.g., ETH) into Sky vaults.
- They borrow USDS up to a percentage of the collateral value (based on liquidation ratios).
- To reclaim collateral, users repay the USDS loan + fees.
USDS Price Statistics
| Metric | Value |
|---|---|
| Total Supply | 7,332,811,913 USDS |
| All-Time High | $1.19 (Nov 2024) |
| Price Stability | Pegged to $1 USD |
Historical Background
- 2017: Launch of Single-Collateral Dai (SAI).
- 2018: Transition to Multi-Collateral Dai (DAI).
- 2024: Rebranded as USDS under Sky Protocol.
USDS to USD Converter
Use the tool below to convert USDS to USD:
USDS → USD
Example: 100 USDS = $99.80
FAQs
1. Is USDS a stablecoin?
Yes, USDS maintains a 1:1 peg with the US dollar through overcollateralization.
2. What collateral supports USDS?
ETH, USDC, and other approved ERC-20 tokens.
3. How is USDS different from USDT?
USDS is decentralized and governed by SKY holders, while USDT is centrally issued.
4. Can USDS be used for savings?
Yes, via Sky Protocol’s USDS Savings Rate (DSR).
👉 Explore DeFi opportunities with USDS
5. What drives USDS price stability?
Algorithmic adjustments and collateral liquidity ensure minimal deviation from $1.
Market Trends
Key Metrics:
- Global Crypto Market Cap: $3.45T (+0.46%)
- 24h Spot Volume: $47.24B (+0.48%)
USDS remains a cornerstone of DeFi, offering low volatility amid market fluctuations.
Note: All data reflects real-time metrics; verify before trading.