# USDS: Sky Dollar

USDS is Sky Protocol’s upgraded decentralized dollar, convertible with DAI and generated against collateral managed by the protocol.

## Key details

- **Issuer:** Sky Protocol
- **Reference currency:** USD
- **Backing model:** Overcollateralized onchain assets
- **Created:** 2024-09-18

## About

Sky began as MakerDAO, with contributors working on early designs from 2015 and the first Dai system going live in 2017. Maker introduced Multi-Collateral Dai in 2019, then rebranded the ecosystem as Sky in 2024 while keeping DAI and adding USDS as a newer protocol token.

## Supported chains

- Ethereum
- Arbitrum
- Base
- Solana
- Unichain
- OP Mainnet
- Avalanche

- **Reference contract:** `0xdC035D45d973E3EC169d2276DDab16f1e407384F` (Ethereum)

## Legal jurisdiction

No single issuing country (decentralized protocol)

Sky Protocol governance and smart contracts. Skybase International’s Cayman Islands terms govern only the web interface, not DAI or USDS issuance.

## Sources

- [Official site](https://sky.money/usds)
- [Sky Protocol](https://developers.skyeco.com/quick-start/protocol-token-routes/)
- [Sky legal terms](https://docs.sky.money/legal/skybase-international/terms-of-use)

This directory is for research, not an endorsement or an availability promise from Fiber. Stablecoin designs, reserves, networks, and redemption terms can change.

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