Sky, formerly known as MakerDAO, has launched its new stablecoin, USDS, on the Solana decentralized ecosystem (DeFi). USDS is the first major DeFi-native stablecoin on Solana, offering new opportunities for lending, borrowing, and trading across the ecosystem's top DeFi platforms. The move marks the beginning of a multi-chain era for USDS, according to Rune Christensen, co-founder of Sky. Solana, which competes with Ethereum, has seen significant growth in the DeFi space, with $8.2 billion locked into its DeFi apps. Sky rebranded from MakerDAO in September and provides a platform for users to borrow and lend cryptocurrencies. Stablecoins are digital assets pegged to another asset, typically the U.S. dollar, allowing for quick and efficient trading without the need for banks.



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