Stablecoin profileLIVE

USDS (Sky) stablecoin

In short: USDS is a USD-pegged stablecoin issued by the decentralised Sky protocol. No token-level authorisation identified in the official registers checked. Below: live peg deviation, peg history, issuer, backing and FAQ.

Issuer profile → Sky

Live peg LIVE

$0.9998Peg target: $1.0000 (USD)On peg

Deviation: -1.7 bps (-0.02%) · Market cap: $8.58B

Sources: CoinGecko, DefiLlama · CoinGecko ↗ · Median of the available sources, refreshed in your browser. A deviation here is not a confirmed depeg.

Token legal status

USDSOther stablecoins

(1) Entity licence / registration

No entity licence record captured by StableRadar.

(2) Authorisation to issue this token

No authorisation to issue this stablecoin identified in official registers as of 27 Oct 2026. Registers checked: NYDFS Greenlist, ESMA EMT register, JFSA, HKMA, CNAD, OCC

(3) Applicable law

—

Token legal status last checked: 27 Oct 2026

Issuer & legal entity

IssuerSky

Legal entityNone identified (decentralised protocol)

HeadquartersDecentralized

Backing mechanismCrypto + RWA collateral

Reserve mixCrypto collateral, RWA vaults, PSM stablecoins

Reserves & attestationOn-chain (real-time collateral) info.sky.money ↗

CustodySmart contracts; RWA via third parties

RedemptionVia PSM / DEX liquidity — no issuer redemption

No licences or registrations are on record for Sky in StableRadar’s data.

Transparency Score (issuer)

Transparency Score

Weighted from public, sourced inputs · 88% of inputs available

Not legal advice; algorithmic assessment from public sources.

Our opinion based on public data as of 12 Nov 2026. Not a regulatory decision or a credit rating.

Issuer profile → Sky

USDS peg history

Max deviation from the peg, time spent outside ±50 / ±100 bps and derived events per window. 24h: CoinGecko 5-minute prices; 7d, 30d, 90d: hourly; 1y: daily. Cached at build time.

Favourites	Coin	Peg	Trend	Max \|dev\|	Low	>±50 bps	>±100 bps	Events	Details
	USDS	USD		−35.0 bps	0.9965	0	0	0

Source: CoinGecko ↗, DefiLlama ↗ · market data cached 13 Nov 2026, 11:28 UTC. Aggregated prices can move on thin markets; a deviation here is not a confirmed depeg.

USDS supply by chain

Current circulating supply per chain from the DefiLlama stablecoins API (cached at build time). Per-chain or DEX prices are not shown: no free source covers them reliably.

Chain	Supply	Share of supply
Ethereum	$5.39B	99.8%
Solana	$4.4M	0.1%
Base	$3.9M	0.1%
Arbitrum	$440,339	0.0%
OP Mainnet	$554	0.0%
Unichain	$178	0.0%
Avalanche	$11	0.0%

Source: DefiLlama ↗

FAQ about USDS

What is USDS (Sky)?

USDS is a stablecoin pegged to the US dollar. Issuer: Sky. Backing (as described in our data): Crypto + RWA collateral.

Who issues USDS?

USDS is issued by the Sky protocol, a decentralised protocol; StableRadar’s data identify no legal issuing company. No licences or registrations are on record for Sky in StableRadar’s data.

Is USDS authorised under MiCA or another stablecoin regime?

No authorisation to issue USDS was identified in the official registers StableRadar checked (NYDFS Greenlist, ESMA EMT register, JFSA, HKMA, CNAD, OCC; last checked 27 Oct 2026). This does not mean the coin or issuer is unlawful, unlicensed or unsafe.

Is USDS safe?

StableRadar does not say whether a coin is safe and does not give investment advice. In our opinion, based on public data as of 12 Nov 2026, the issuer Sky has a Transparency Score of 33/100. This is not a regulatory decision or a credit rating. The live peg deviation and the official register links are on this page.

How is USDS backed?

Model: Crypto + RWA collateral. Reserve mix: Crypto collateral, RWA vaults, PSM stablecoins. Attestation: On-chain (real-time collateral).

Informational only: not legal, investment or compliance advice. Company statements are marked “per company”.

Live prices: 13 Nov 2026, 12:43 UTC · Issuer reference data reviewed: 26 Oct 2026 (later changes are dated on each row) · Sources: Issuer disclosures (Sky), DefiLlama · USDS, CoinGecko · USDS, DefiLlama · Ethereum stablecoins