USDS price

USDS is the dollar-referenced stablecoin of Sky Protocol, issued against collateral managed under the protocol's governance and risk rules. USDS can move through protocol routes involving DAI, USDC, and the separate sUSDS savings-vault token. The USDS asset is therefore tied to this specific network, protocol, or issuer function rather than to a generic cryptocurrency category.

USDS is issued through Ethereum smart contracts rather than mined, and its stability design uses overcollateralized protocol positions and peg-stability modules. Supply is variable: new USDS can be generated against approved collateral and removed through repayment, redemption, or protocol conversion routes. These mechanics describe how USDS is produced, issued, redeemed, burned, or used to secure its network; they do not imply any price outcome or investment view.

A distinguishing feature is that USDS is directly convertible with DAI through a protocol converter because both draw from the same issuance source. It is distinct from sUSDS, the ERC-4626 vault token used to access the Sky Savings Rate. This named mechanism or use case is the asset-specific fact that separates USDS from tokens that may share a broad category but have different issuance, governance, or settlement designs.