Support SKY's USDS and sUSDS as collateral on Venus Protocol Ethereum Core Pool

Summary:

Sky contributors would like to propose the addition of USDS and sUSDS to Venus Protocol as a core market on Ethereum.

Motivation:

Sky is the recent rebrand of MakerDAO and is behind the USDS stablecoin. USDS has over ~$5bn market cap with over $130m of liquidity on mainnet. By adding USDS and sUSDS (sUSDS is the tokenized representation of USDS deposited in the Sky Savings Rate (SSR) offered by Sky) to Venus, Sky enables the Venus community to participate in the Sky ecosystem and gives existing USDS ans sUSDS users access to Venus markets.

Benefits

Venus users will be able to access and utilise USDS and sUSDS for various yield and strategic opportunities. Venus Protocol can associate itself with the Sky ecosystem and attract Sky users to Venus through this integration. The addition of USDS ans sUSDS will support Venus’s growth on Ethereum.

About Sky

The Sky Protocol, which centers around the USDS stablecoin and the SKY governance token, are enhanced versions of MakerDAO’s DAI and MKR, respectively. Sky offers the ability to mint USDS by depositing ETH along with features such as the Sky Savings Rate (SSR) for earning interest on USDS holdings and Sky Token Rewards (STRs) for supporting ecosystem projects.

Website: https://sky.money/ Twitter: x.com

Specifications

Contract Address:

USDS: 0xdc035d45d973e3ec169d2276ddab16f1e407384f sUSDS: 0xa3931d71877c0e7a3148cb7eb4463524fec27fbd

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