The Sky Protocol keeps making a splash in the decentralized financial ecosystem and has been coming out with some notable developments regarding equitable supply, token rewards, and good ol’ cross-chain adoption. Recently, it achieved a couple of key milestones—including the one where we surpass a major supply landmark—and two things happened at this milestone: first, we surpassed DAI in terms of USDS dominance; and second, cross-chain, multichain adoption has been fueled further by this achievement. Surging Supply and Milestones for USDS A highly significant occurrence for Sky Protocol was its swift enlargement of the total supply, which shot up from
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Sky’s (formerly MakerDAO) use of externally owned accounts (EOAs) to manage $756 million in USDC reserves raises questions about security and transparency.
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