Sky Ecosystem boosts USDS supply above $10B after $237M increase

The Sky Protocol’s flagship stablecoin just crossed a round number that matters. USDS supply climbed past $10 billion after adding $237 million in a single 24-hour window, a milestone that cements the token’s position as one of the largest stablecoins in decentralized finance. The $237 million daily increase didn’t materialize out of thin air. Sky Agents, the capital allocators embedded within the ecosystem, have deployed over $5.5 billion into institutional strategies. Those strategies involve partnerships with names that would look perfectly at home on a Wall Street letterhead: BlackRock, Janus Henderson, and PayPal. That overcollateralization is worth lingering on. Total protocol collateral sits in the range of $10 billion to $13 billion, meaning every USDS in circulation is backed by more than a dollar’s worth of assets. The protocol has also been building reserves toward a solvency target of $150 million, generating consistent surpluses along the way. Multiple quarters have seen gross revenue surpass $100 million, and cumulative yield distributions through sUSDS have exceeded $250 million. A stablecoin that just sits in a wallet earns nothing. A stablecoin that earns yield ten...