Instruments · Payment Stablecoins

Sky Dollar

USDSDollar Stablecoin

No yield

Yield / return

Sky Dollar (USDS) is a stablecoin tracking the US dollar, crypto-backed, paying no yield. Trading -0.02% against one USD. About $7.0bn in circulation, on 7 chains (Ethereum, Solana, Base …).

On exchanges or on a DEX with a self-custody wallet (no KYC), or converted 1:1 from DAI in the Sky app. The yield comes from staking it as sUSDS, which earns the Sky Savings Rate.

Who may buy is set by the issuer — check their terms.

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Price, yield or minimum: check with the provider

Our source lists what USDS is, and where it is held (Ethereum / Solana / Base (+4)) — but states no price, yield or minimum for it. Left empty here rather than estimated.

Key facts

Yield / return: No yield
Liquidity: Traded on public markets — venues not verified
KYC: To buy on a market: no KYC. To mint with the issuer: no KYC.
Figures verified: 2026-10-11

Details

Issuer: Sky (formerly MakerDAO)
Type: Dollar Stablecoin
Category: Payment Stablecoins
Pillar: Fixed Income
Network: Ethereum / Solana / Base (+4)
Jurisdiction: United States
AUM: $7,039,445,103 circulating
EU (MiCA): No issuer to authorise

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Questions about USDS and Payment Stablecoins

Buying USDS: common questions

How do I buy USDS?

On exchanges or on a DEX with a self-custody wallet (no KYC), or converted 1:1 from DAI in the Sky app. The yield comes from staking it as sUSDS, which earns the Sky Savings Rate. The token runs on Ethereum / Solana / Base (+4).

Do I need KYC to buy USDS?

Not on the secondary market: USDS can be bought on a DEX without identity verification.

Can I buy USDS in the EU?

Not reliably. USDS has no central issuer that could be authorised under MiCA, and many EU-regulated platforms have stopped offering it. You can still swap into it on a DEX from your own wallet. Issued by the Sky protocol with no central issuer to authorise.