Staked Sky USDS (sUSDS) is the yield-bearing version of Sky's USDS stablecoin, earning the Sky Savings Rate funded by the protocol's multi-collateral backing of crypto, staked ETH and tokenized US Treasuries. Holders stake USDS into sUSDS and can unstake at any time. sUSDS scores 71/100 (Tier 3) on the RWTS Trust Score: it is the savings token of one of DeFi's largest, most established stablecoin systems, with instant liquidity, set against smart-contract and governance risk and a yield that Sky governance can change. It is the successor to sDAI within the rebranded Sky ecosystem.
- Issuer / protocol
- Sky (MakerDAO)
- Backing
- USDS (multi-collateral: ETH, stETH, U.S. Treasuries via RWA, etc.)
- Redemption / lock-up
- None
- Audit & proof of reserves
- Independently audited
- Availability
- Global
- Chain
- Ethereum
- Tier
- Tier 3 — Secured DeFi
- Contract
- 0xa393…7fbD
Scored on the published RWTS methodology (v1.1), reviewed quarterly and on material events. Ratings are independent and never pay-influenced.
Calculations are indicative. Actual yields may vary.
Price data from CoinGecko. Not financial advice.
Current yield of 3.65% sits at 13% of the observed range. There may be room for rates to improve.
Projections assume constant APY of 3.65%. Actual returns may vary. Not financial advice.
Yield-bearing wrapper around Sky USDS, earning the Sky Savings Rate (SSR) set by Sky governance. Yield backed by U.S. Treasury exposure (RWA collateral) and protocol revenue. Direct successor to sDAI in the Sky Foundation product family. Inherits MakerDAO/Sky operational lineage and security framework.
Methodology v1.0 · independent rating · published rubric · no issuer payments
Yield-bearing wrapper around USDS (next-generation Sky stablecoin); USDS is multi-collateral overcollateralized via ETH, stETH, U.S. Treasuries (RWA collateral), and other Sky-approved collateral types. Maintains 150%+ collateralization through MCD vault system.
All collateral fully visible on-chain via Sky smart contracts; Sky Foundation publishes regular protocol financial reports; on-chain transparency + third-party reporting framework.
Instant unstake from sUSDS to USDS via Sky Savings vault; USDS redeems instantly to USDC at par via Sky PSM (Peg Stability Module). Sub-minute end-to-end USDC convertibility.
Inherits Sky/MakerDAO institutional security framework: multiple smart contract audits across decade of operation, Immunefi top-tier bug bounty, protocol financial reporting. sUSDS contracts (newer than sDAI) have undergone fresh audits.
Decentralized governance via Sky DAO; Sky Foundation provides organisational structure with published terms; consistent with sDAI/USDS treatment.
sUSDS launched September 2024 alongside USDS as part of Sky rebrand from MakerDAO (~20 months of operation as of May 2026); no material incidents specific to sUSDS. Inherits MakerDAO operational lineage.
INHERITED_PROTOCOL_HISTORYsUSDS inherits Sky/MakerDAO protocol history including Black Thursday March 2020 (~$8M bad debt during ETH crash + oracle delay; remediated; 5+ years clean since). Sky rebrand and architecture changes 2024.
WALLET_ADAPTER_DESTINATIONThis vault is integrated as an active deposit destination in the RWTS Yield Wallet adapter system.
Caveats document operational realities that don't change the dimensional score but shape practical use.
Beyond sUSDS's own score, two structural questions matter: what is it built on, and what has broken before in this part of the market. A high score in isolation can still carry hidden, shared exposure.
The Sky Savings Rate and the RWA collateral behind it set the yield and the risk for sDAI, sUSDS, and the Spark lending stack. A change or stress at the Sky layer flows straight through all of them.
See the full chain →What this and similar assets are built on, and where contagion could spread.
The depegs, defaults, and exploits that inform the Track Record dimension.
Liquidity read: TVL of $6.51B indicates deep on-chain liquidity. Lock-up: None.
Is sUSDS safe?
sUSDS (Staked Sky USDS) scores 71/100 on the independent RWTS Trust Score, which places it in Secured DeFi (Tier 3). Tier 3 carries real DeFi exposure: the backing is sound but smart-contract and collateral risk are live, so size positions accordingly. Backing: USDS (multi-collateral: ETH, stETH, U.S. Treasuries via RWA, etc.). It is independently audited. The score reflects backing, verification, redeemability, audit, regulatory standing, and track record, not headline yield. We rate. You decide.
Compare sUSDS
Head to head on the Trust Score with similar assets.