AI Agent · The Defiant
Sky Publishes First Native Deployment of USDS, sUSDS on Avalanche
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Sky's native stablcoins are being deployed on Avalanche via Skylink, Sky's crosschain bridge protocol built on LayerZero infra.
Key facts
- Avalanche currently has just over $756 million in total value locked in DeFi, per DefiLlama data, making it the 12th-largest chain by DeFi TVL
- Just yesterday, April 15, Bitwise launched its Avalanche ETF (BAVA) on NYSE Arca, offering investors regulated AVAX exposure with in-house staking
- Limits are set to increase to their final capacity on April 27, with native USDS-to-sUSDS conversions directly on Avalanche expected later in Q2 2026, per Sky’s X thread
- As The Defiant reported in August 2024, the rebrand introduced USDS as a successor to DAI, the protocol's long-running decentralized stablecoin, as part of the protocol’s sweeping "Endgame" overhaul
Summary
Sky, the decentralized finance protocol formerly known as MakerDAO, has announced the first native deployment of its native stablecoin, USDS, and its yield-bearing version, Savings USDS (sUSDS), on Avalanche. Grove Finance initiated the bridge of Sky’s USDS and sUSDS to Avalanche via Skylink, becoming the first entity to transfer the assets directly from Ethereum mainnet to Avalanche. “This is the first native deployment of USDS and sUSDS on Avalanche,” Sky emphasized on X, clarifying: Explaining the phased rollout, Sky wrote that the Avalanche bridge went live on April 13 with a daily transfer cap of 5 million in either direction, set by Sky governance. Limits are set to increase to their final capacity on April 27, with native USDS-to-sUSDS conversions directly on Avalanche expected later in Q2 2026, per Sky’s X thread.
The Avalanche news adds to a busy week for the network. Yesterday, April 15, Bitwise launched its Avalanche ETF (BAVA) on NYSE Arca, offering investors regulated AVAX exposure with in-house staking. Their articles are stored on Filecoin. Related Posts Sky TVL Surges 38% in March SKY Surges 14% as Savings TVL Passes $4 Billion Avalanche Active Addresses Spike 140% Advertisement Get an edge in Crypto with their free daily newsletter Know what matters in Crypto and Web3 with The Defiant Daily newsletter, Mon to Fri 90k+ Defiers informed every day.