# Sky (formerly MakerDAO) Stablecoin Issuer — Licences, Reserves & Compliance Score | StableRadar

> Sky (formerly MakerDAO): stablecoin issuer profile with licences checked against regulator registers, reserves, attestations, official partners and Regulatory Compliance Score.

Canonical: https://stableradar.com/issuer/sky
Generated: 2026-10-26T08:34:30.521Z (live figures are a snapshot at build time; see the canonical page for current values)

← All issuers

**In short:** Sky (formerly MakerDAO) issues USDS, DAI (issuing entity: Decentralized protocol (Sky governance)). Headquarters: Decentralized. Status: Active. Licences on record: 0 (0 authorised; 0 confirmed on a regulator's official public register). Reserve reports: continuous (—). Reference data as of 2026-10-26.

# Sky (formerly MakerDAO) Not verified
Decentralized protocol (Sky governance)

Status Active

Verification Verified

Coverage Partial

Licences **0 / 0**

SRS **68**

Profile as of **2026-10-26**

Regulatory Compliance Score

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

Not legal advice; algorithmic assessment from public sources.

USDS peg · 7 days

Pins: computed 7d high/low. No reference events dated within this window.

Peg deviation (live)

+0.0 bps

Supply 30d → now (DefiLlama)

$11.56B

24h volume (CoinGecko)

$267.1M

Chains with supply

### Company
- HQ **Decentralized**

- Founded **2014 (MakerDAO); rebrand to Sky Aug 2024**

- Leadership **Rune Christensen (co-founder)**

- Model **Crypto + RWA collateral**

- Website **sky.money ↗**

### Products & supply LIVE
- USDS **$10.00B · 0.0 bps**

- DAI **$4.55B · 1.1 bps**

- Total (CoinGecko) **$14.55B**

30d ago

$11.37B

7d ago

$11.56B

1d ago

$11.45B

now

$11.56B

### Distribution
Ethereum

$10.97B

94.9%

Polygon

$446.3M

3.9%

Fantom

$35.1M

0.3%

BSC

$31.1M

0.3%

Arbitrum

$17.6M

0.2%

OP Mainnet

$13.5M

0.1%

PulseChain

$10.9M

0.1%

Avalanche

$9.4M

0.1%

Kaia

$8.0M

0.1%

Solana

$5.3M

0.0%

Supply by chain · DefiLlama (live)

### Products REFERENCE · issuer official site · as of 2026-10-26
- **USDS**Sky stablecoin [sky.money ↗](https://sky.money/)[source · 2026-10-26](https://sky.money/)

- **sUSDS**Savings USDS [sky.money ↗](https://sky.money/susds)[source · 2026-10-26](https://sky.money/)

- **stUSDS**Staked USDS [sky.money ↗](https://sky.money/stusds)[source · 2026-10-26](https://sky.money/)

- **Sky Ecosystem Rewards**Rewards programme [sky.money ↗](https://sky.money/sky-ecosystem-rewards)[source · 2026-10-26](https://sky.money/)

### Official partners (0) REFERENCE · issuer official site · as of 2026-10-26
Checked: No partner list on sky.money (product pages only; Morpho named as vault venue).

### Licences & authorisations worldwide (0 · 0 ✓ verified on register) REFERENCE · regulator registers / issuer disclosures · as of 2026-10-26
No licence on record (decentralized / no public data).

### Reserves, custody & attestation
- Assurance **On-chain (real-time collateral)**

- Audit / attestation firm **—**

- Frequency **Continuous**

- Composition (per issuer) **Crypto collateral, RWA vaults, PSM stablecoins**

- Custodians **Smart contracts; RWA via third parties**

- Latest disclosed **On-chain dashboard**

- Evidence **report ↗**

### Redemption terms
Via PSM / DEX liquidity — no issuer redemption

### Controls: freeze / clawback / admin
- freeze **USDS: governance freeze module; DAI: none**

- clawback **No**

- multisig **Governance + GSM timelock**

- upgrade **USDS upgradeable**

### Frozen / blacklisted / seized
No public freeze/blacklist statistics found.

### Government & public sector partnerships REFERENCE · issuer newsroom / official government sites · as of 2026-10-26
Official newsroom not yet checked for this issuer.

### Government & law-enforcement cooperation
No public info.

### Regulatory actions & enforcement history
None on record in our reference set.

### AI-agent payments
No public info.

Reference fields compiled 2026-10-26 from linked sources. Items marked “verify” or “per issuer” are not independently confirmed. Not legal or investment advice.

Last updated: 2026-10-26 08:33 UTC (live data) · reference data as of 2026-10-26 · Sources: Regulator public registers & issuer disclosures (linked per item), [CoinGecko](https://www.coingecko.com/), [DefiLlama](https://defillama.com/stablecoins)