Markets · Coin
USDS (USDS) price and market data
USD stablecoin · Sky ecosystem
Short answer: USDS is the dollar stablecoin of Sky, the protocol formerly known as MakerDAO, and the successor to DAI. The panel below loads its live price, market cap, volume, supply, and 24h/7d/30d performance from named public sources with the as-of time printed on it. The sections after it explain what USDS is and how it works, without quoting prices that would go stale.
What is USDS?
USDS is the US dollar stablecoin of Sky, the protocol formerly known as MakerDAO and one of the oldest systems in decentralized finance. It is the successor to DAI: under Sky's rebrand, DAI holders can upgrade one-for-one into USDS. The token aims to hold a one-dollar value, backed by cryptocurrency collateral and real-world assets held inside the protocol rather than by deposits at a single company.
Holders can convert USDS into sUSDS to earn the Sky Savings Rate, a yield paid from protocol revenue. Because the backing sits in a governed on-chain system, USDS risk is a mix of smart contract risk, governance decisions, and collateral quality: a different profile from centrally issued stablecoins such as USDC and USDT.
How USDS works
- USDS is minted against collateral locked in the Sky protocol, historically overcollateralized positions in crypto assets and allocations to real-world assets such as Treasury bills.
- The sUSDS savings token accrues the Sky Savings Rate, set by SKY token governance and funded by protocol revenue.
- DAI remains convertible with USDS at one-to-one through the protocol's upgrade path, so the two supplies are linked.
- Governance by SKY holders sets collateral types, risk parameters, and the savings rate, which makes parameter decisions a standing source of change.
The risk, in plain terms
USDS depends on smart contracts, governance votes, and the quality of mixed crypto and real-world collateral. Its dollar peg is a target maintained by the system, not a redemption guarantee from a regulated issuer.
Every figure on this page comes from the named public source printed beside it. If a feed fails, the panel says so instead of presenting old numbers as live. Read the methodology for how CryptosEyes sources market data, and the disclaimer before acting on anything you read here.
USDS coverage on CryptosEyes
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Frequently asked questions
What is the current price of USDS?
The live panel at the top of this page shows the latest USDS price in US dollars, loaded in your browser from the CoinGecko public market API with the CoinPaprika public API as fallback. It refreshes about every two minutes while the page is open and prints its source and as-of time beside the figures. An aggregator price is a market-wide average across exchanges; a single exchange can quote slightly higher or lower at the same moment.
How is USDS's market cap calculated?
Market capitalization is the current price multiplied by the circulating supply, the amount of USDS in public hands as reported by the data source. Where the source publishes total and maximum supply, this page shows those beside the circulating figure so the gap is visible. Market cap values the circulating coins at today's price; it is not the amount of money anyone has invested in the asset, and it moves whenever either the price or the reported supply changes.
Is USDS a good investment?
CryptosEyes does not make that call for any asset. This page publishes market data with named sources and explains how USDS works, so you can judge it against your own research. The risk to understand first: USDS depends on smart contracts, governance votes, and the quality of mixed crypto and real-world collateral. Its dollar peg is a target maintained by the system, not a redemption guarantee from a regulated issuer.
Market data only, not investment advice. Back to all crypto prices or Weekly Movers.