The Sky Protocol, formerly known as MakerDAO, has seen its USDS stablecoin supply exceed $10 billion. This milestone follows a single-day increase of $237 million in circulation.
Sky Agents have deployed over $5.5 billion into institutional strategies through partnerships with firms including BlackRock, Janus Henderson, and PayPal. These strategies are central to the protocol's revenue generation.
Total protocol collateral is currently estimated between $10 billion and $13 billion. The project is also working toward a solvency target of $150 million to manage potential risks.
Financial performance remains strong, with gross revenue exceeding $100 million over multiple quarters. Additionally, cumulative yield distributions for sUSDS holders have surpassed $250 million.
As of late September 2026, the combined supply of USDS and legacy DAI reached approximately $9.71 billion. The recent growth indicates an accelerating migration from DAI to USDS.
