Adoption metrics from Solana DeFi platforms or analytics reports

Sky Protocol's $5B USDS Stablecoin Launches on Solana via Wormhole with 8.5% Yield and 500,000 USDS Rewards

Nov 19, 2024, 02:14 PM

Sky Protocol's flagship $5 billion stablecoin, USDS, has launched on the Solana blockchain as an SPL token, marking the first major DeFi-native stablecoin to enter the Solana ecosystem. The integration is powered by Wormhole, enabling native USDS transfers between Ethereum and Solana and maintaining unified liquidity across chains. USDS is directly available and integrated on major Solana DeFi platforms such as Jupiter, Kamino, and Drift, unlocking new opportunities for lending, borrowing, and trading. Solflare wallet now supports USDS, expanding accessibility for users. Early adopters can access over 500,000 USDS in weekly rewards, and Wormhole is offering an additional 100,000 USDS in weekly incentives for bridging. Users on supported platforms will automatically receive the Sky Savings Rate, offering an 8.5% yield plus additional incentives.