Decentralized finance (DeFi) protocol Sky (previously known as MakerDAO) has announced the launch of stUSDS, a new digital asset designed to deliver returns to investors.
According to the information available on the website, this Ethereum token is Offers an interest rate of 20% per yearHowever, this percentage may vary.
According to a press release issued by the company shared with CriptoNoticias: stUSDS is aimed at “savvy investors, advanced DeFi users, institutions, and fund managers.”
Asset performance is derived from stability fees Its protocol users pay to borrow USDS, the main stablecoin in the Sky ecosystem. When depositing USDS, users receive stUSDS, which acts as a digital record of their positions and accumulated value.
Sky co-founder Rune Christensen said the launch aims to “open up new avenues of value creation”. The protocol has seen significant growth since the launch of USDS (an updated version of DAI), with over $7 billion in circulating supply.
As of this writing, Sky’s official website states: The new product has a Total Value Locked (TVL) of $111 million.
Sky clarified in a statement that some features, including offers, are not available in certain jurisdictions, such as the US. In any case, what I would like to clarify is that Access to the platform does not require personal identification or any kind of registration as per KYC policy (English acronym for “know your customer”).
The launch of stUSDS expands the product offering within the ecosystem and seeks to establish itself as a key infrastructure for capital formation in the decentralized finance sector.
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