---
title: "Staked USDS (stUSDS) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/stusds-sky/"
description: "Build-time stablecoin profile for Staked USDS (stUSDS). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Staked USDS (stUSDS)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Sky's expert-mode risk-capital module over USDS that funds SKY-backed borrowing and absorbs shortfall via slashing. stUSDS is Sky's expert-mode risk-capital token, not a plain sUSDS savings receipt. Deposited USDS funds SKY-backed borrowing while idle liquidity earns the Sky Savings Rate, exposing holders to borrower shortfall, governance slashing, utilization, and withdrawal-liquidity risk. As a {{term:yield-bearing}}yield-bearing{{/term}} module distinct from passive {{term:redemption}}redemption{{/term}} paths, it inherits the broad Sky/USDS ecosystem and ranks differently from USDS and sUSDS because its value can be affected by staked-SKY loan performance.

## Collateral

USDS supplied to Sky's stUSDS risk-capital module, where deposits fund SKY-backed borrowing and earn the stUSDS Rate; holders absorb staked-SKY loan shortfall and governance slashing risk

## Peg Mechanism

ERC-4626 NAV shares over USDS; users deposit USDS to mint stUSDS and withdraw USDS subject to unutilized module liquidity, while bad debt or governance slashing can reduce redeemable value

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/stusds-sky.