Sky Savings USDS
What is the Sky Savings Rate, and how does it work?
The Sky Savings Rate (SSR) is an automated token-accumulation mechanism within the decentralized Sky Protocol that accounts for the effect of accumulated USDS, compounded in real time. In other words, the USDS you supply to the Sky Savings Rate module allows you to receive sUSDS. The SSR is variable and determined not by market factors but by Sky ecosystem governance through a process of decentralized on-chain voting.
When you supply USDS to the Sky Savings Rate module, you gain access to the SSR and may receive sUSDS tokens in return. These sUSDS tokens serve as a digital record of your USDS interaction with the SSR module and any value accrued to your position.
The decentralized Sky Protocol dynamically adds USDS tokens to the pool every few seconds, in accordance with the Sky Savings Rate. As those tokens auto-accumulate in the pool over time, the value of the sUSDS you hold may gradually increase.
Therefore, when you choose to redeem your sUSDS for USDS—which you can do at any time—the total USDS you will receive will equal the amount you originally supplied, plus any additional USDS accumulated. With the Sky Protocol, you're always in full control of your supplied funds, as this feature is non-custodial.
Does it cost anything to access the Sky Savings Rate?
Accessing the Sky Savings Rate via the Sky Protocol is free. However, any time you supply or withdraw assets to or from the Sky Savings Rate module, you will incur a transaction fee—called a gas fee—for using the Ethereum blockchain network. That fee is not controlled, imposed, or received by Sky.money or the Sky Protocol.
What is USDS?
USDS is the stablecoin of the decentralized Sky Protocol. It can be used in several ways, including participating in the Sky Savings Rate and earning Sky Token Rewards without relinquishing control. It is the upgraded version of DAI.
What is sUSDS?
sUSDS is a savings token for eligible users. When you supply USDS to the Sky Savings Rate module, you gain access to the Sky Savings Rate and may receive sUSDS tokens in return. These sUSDS tokens serve as a digital record of your USDS interaction with the SSR module and any value accrued to your position.
The decentralized Sky Protocol dynamically adds USDS tokens to the pool every few seconds, in accordance with the Sky Savings Rate. As those tokens auto-accumulate in the pool over time, the value of the sUSDS you hold may gradually increase.
Therefore, when you choose to redeem your sUSDS for USDS—which you can do at any time—the total USDS you will receive will equal the amount you originally supplied, plus any rewards accumulated. With the Sky Protocol, you can save without relinquishing control of your supplied funds.
What should I do after depositing?
Nothing! The system automates liquidity management. Just monitor the market and plan your exit strategy if needed.
Can I withdraw at any time?
Yes, you can withdraw your funds at any time without restrictions.
What is the Sky Saving Contract?
0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD
Disclaimer & Risk Notice
Helixbox solely provides a user interface and does not control any contracts, assets, or protocol functions from third-party DeFi Protocols. This premium DeFi product’s smart contract operations and asset management are exclusively governed by Sky Protocol, and the risks associated with its use are inherent.
User Interface Risks
User interface risks refer to the potential for users to misunderstand or misuse the Helixbox interface, leading to unintended actions or transactions. Helixbox is complex, involving multiple interconnected components and possible interactions. There is a risk that users may:
- Misinterpret information displayed on the App.
- Click incorrect buttons, resulting in unintended transactions.
- Fail to understand the full implications of their actions, which may lead to financial losses.
Helixbox is not an investment advisor. The information provided is for educational purposes only and should not be considered financial advice. Before making any investment decisions, please conduct your own research and consult a professional financial advisor.
By participating, you acknowledge that this investment carries inherent risks and involves engagement with the Sky Savings Rate and the Sky Protocol. For a detailed breakdown of potential risks, please review: