The Sky ecosystem consists of the community and projects that support the decentralised Sky Protocol. The ecosystem’s community participates in a transparent system of governance that uses a decentralised onchain voting process supported by two governance tokens, SKY and MKR. The Sky ecosystem also includes Sky Stars—independent decentralised projects designed to enable focused, fast-moving innovation and growth.

Sky.money is one of the many non-custodial gateways to the permissionless Sky Protocol, a decentralised protocol developed around the USDS stablecoin. Sky.money is a front end that provides access to the app without holding your funds or acting as an intermediary. It provides eligible users with access to Sky Protocol features, including Sky tokens (USDS, SKY, DAI, MKR), the Sky Savings Rate (SSR), Sky Token Rewards (STRs), and eventually Activation Token Rewards and SkyLink. With the Sky Protocol, you can save and access rewards without giving up control of your supplied funds.

Eligible Sky.money users can access the Sky Protocol to do the following:

• Trade. Directly trade popular tokens for Sky ecosystem tokens using permissionless and non-custodial pools.

  • Trade USDC, USDT, ETH and SKY for USDS, and vice versa. With USDS, you can access Sky Token Rewards and access the Sky Savings Rate to accumulate more USDS.
  • Trade USDC, USDT, ETH and USDS for SKY, and vice versa. Eventually, SKY will be used to get Activation Token Rewards and to vote on changes and additions to the Protocol.

• Upgrade. Upgrade DAI to USDS 1:1, and MKR to the SKY governance token at a rate of 1:24,000. USDS and SKY can also be converted back to DAI and MKR. While upgrading is optional, doing so enables you to take advantage of the many new Sky ecosystem features.

• Access Rewards. Use USDS to access Sky Token Rewards (STRs) over time. No minimum USDS supply amount is required.

  • The amount of STRs you receive is calculated based on your share of the entire pool of USDS tokens supplied to the Sky Token Rewards module by all participants, not on the amount of tokens you supply. This share, and consequently the rate of STR rewards, can fluctuate as the total pool size changes over time. Sky.money does not control the issuance, determination, or distribution of these rewards.
  • The USDS stablecoin, as well as the rewards received, are supplied to a non-custodial smart contract that represents the USDS pool of funds. This means that no intermediary takes custody over your funds.

• Save. Place USDS into the Sky Savings Rate (SSR) module to access the SSR and accumulate additional USDS over time. No minimum supply amount is required.

  • When you supply USDS to the SSR module, you receive sUSDS tokens. These sUSDS tokens serve as a digital record of your USDS interaction with the SSR module and any value accrued to your position.
  • The Sky Protocol dynamically adds USDS tokens to the pool every few seconds, in accordance with the SSR. As those tokens auto-accumulate in the pool over time, the value of the sUSDS you hold may gradually increase. So, when you choose to redeem your sUSDS for USDS—which you can do anytime—the total USDS you receive will equal the amount originally supplied, plus any rewards earned.

With Sky.money, you always remain in control of your supplied funds.

You can use Sky.money as a gateway to the Sky Protocol and to then access the permissionless liquidity pools, or similar onchain solutions, to trade USDC, USDT, ETH or SKY for USDS. You can also upgrade your DAI to USDS subject to any applicable gas fees for using the Ethereum blockchain network, which powers the Sky Protocol. That fee is not controlled, imposed, or received by Sky.money or the Sky Protocol. You might be able to obtain USDS on various crypto exchanges that decide to make it available on their platforms.

No. DAI and MKR will remain unaltered in their original forms for the foreseeable future. You can continue to hold and use both tokens exactly as you have in the past. While each has an upgraded Sky version, upgrading is optional. But only by holding USDS and SKY can you utilise the Sky Protocol functionalities available in your region.

Note that decisions regarding the Sky Protocol, its tokens and features are made by Sky ecosystem governance token holders through a system of decentralised on-chain voting.