{"id":172012,"date":"2024-09-20T17:50:25","date_gmt":"2024-09-20T17:50:25","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172012"},"modified":"2024-09-20T17:50:27","modified_gmt":"2024-09-20T17:50:27","slug":"sky-formerly-makerdao-launch-usds-on-solana-rune-christensen-reveals-major-defi-expansion-plans","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/sky-formerly-makerdao-launch-usds-on-solana-rune-christensen-reveals-major-defi-expansion-plans\/","title":{"rendered":"Sky (Formerly MakerDAO) Launch USDS on Solana: Rune Christensen Reveals Major DeFi Expansion Plans"},"content":{"rendered":"<p style=\"text-align: justify\">TL;DR<\/p>\n<ul>\n<li style=\"text-align: justify\">Sky, formerly MakerDAO, will <strong>launch its stablecoin USDS on Solana<\/strong> using the Wormhole protocol.<\/li>\n<li style=\"text-align: justify\">Sky will offer incentives of up to <strong>2 million SKY tokens per week<\/strong> to promote the adoption of USDS on Solana.<\/li>\n<li style=\"text-align: justify\">The integration of USDS on Solana precedes the deployment of <strong>SkyLink<\/strong>, an advanced solution that <strong>will enable native governance and new DeFi features<\/strong>.<br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong>Sky<\/strong>, formerly known as <a href=\"https:\/\/crypto-economy.com\/makerdao\/\" target=\"_blank\" rel=\"noopener\"><strong>MakerDAO<\/strong><\/a>, has announced the <strong><a href=\"https:\/\/forum.makerdao.com\/t\/sky-on-solana-short-term-crosschain-strategy-proposal\/25172\" target=\"_blank\" rel=\"noopener\">launch<\/a> of its decentralized stablecoin USDS on the Solana blockchain<\/strong> via the <strong>Wormhole<\/strong> interoperability protocol.<!--more--><\/p>\n<p style=\"text-align: justify\">The announcement was made by Rune Christensen, the founder of the platform, <strong>during the Solana Breakpoint conference<\/strong>. This move is crucial for <strong>deepening the protocol&#8217;s expansion<\/strong> into new platforms, allowing Solana users to access Sky&#8217;s assets and unique features.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today at breakpoint presented my upcoming proposal to bring Sky on Solana soon <\/p>\n<p>It will use Wormhole to bridge SKY, USDS and sUSDS alongside an incentive program to allocate 2 million SKY per week to Solana DeFi protocols that integrate USDS and SKY <a href=\"https:\/\/t.co\/dbcuy23CVj\" target=\"_blank\">https:\/\/t.co\/dbcuy23CVj<\/a> <a href=\"https:\/\/t.co\/0cBtvgs4ph\" target=\"_blank\">pic.twitter.com\/0cBtvgs4ph<\/a><\/p>\n<p>&mdash; Rune (@RuneKek) <a href=\"https:\/\/twitter.com\/RuneKek\/status\/1837082904066760897?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">September 20, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">The integration of USDS on Solana aims to address a need in this ecosystem: the lack of a decentralized stablecoin <strong>that offers native savings rates and token rewards<\/strong>.<\/p>\n<p style=\"text-align: justify\">Although Solana is not as large as Ethereum, Christensen highlighted its <strong>growth potential<\/strong> thanks to the established foundations in the DeFi sector within the platform. With this expansion, Sky aims to <strong>leverage Solana&#8217;s speed and efficiency<\/strong>, as well as its capacity to process thousands of transactions per second.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-172013\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/SKY-POST-1.jpg\" alt=\"sky post\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/SKY-POST-1.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/SKY-POST-1-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/SKY-POST-1-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<h2>Sky Prepares a Huge Liquidity Incentive Program<\/h2>\n<p style=\"text-align: justify\">As part of its short-term growth strategy, Sky has announced a <strong>liquidity incentive program<\/strong>. This temporary program will offer up to <strong>two million SKY tokens per week<\/strong> to reward liquidity providers and DeFi integrators on Solana, fostering the adoption of USDS.<\/p>\n<p style=\"text-align: justify\">The incentives will primarily target <strong>two liquidity pairs: USDS\/USDC and USDS\/sUSDS<\/strong>, with the goal of ensuring a smooth experience for Solana users utilizing the stablecoin.<\/p>\n<p style=\"text-align: justify\">This initiative is part of a strategy that will <strong>culminate in the launch of SkyLink<\/strong>, an advanced solution that will enable native <strong>governance on Solana<\/strong>. SkyLink will provide full access to the protocol&#8217;s key features, such as <strong>savings rates for USDS<\/strong>, token rewards, and the ability to deploy large-scale capital into Solana&#8217;s DeFi protocols.<\/p>\n<p style=\"text-align: justify\">Finally, the use of the <strong>Wormhole protocol will facilitate interoperability between Ethereum and Solana<\/strong> while preparing for the full deployment of SkyLink.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Sky, formerly MakerDAO, will launch its stablecoin USDS on Solana using the Wormhole protocol. Sky will offer incentives of up to 2 million SKY tokens per week to promote the adoption of USDS on Solana. The integration of USDS on Solana precedes the deployment of SkyLink, an advanced solution that will enable native governance &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Sky (Formerly MakerDAO) Launch USDS on Solana: Rune Christensen Reveals Major DeFi Expansion Plans\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/sky-formerly-makerdao-launch-usds-on-solana-rune-christensen-reveals-major-defi-expansion-plans\/#more-172012\" aria-label=\"More on Sky (Formerly MakerDAO) Launch USDS on Solana: Rune Christensen Reveals Major DeFi Expansion Plans\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":172014,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[114,70,74],"tags":[4620,4656,5197,5348,5016,5456],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172012"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172012"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172012\/revisions"}],"predecessor-version":[{"id":172016,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172012\/revisions\/172016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172014"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}