Profile
sUSDS profile facts
Sky Savings USDS (sUSDS) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg USDS-denominated NAV.
Variant relationship
Sky Savings USDS (sUSDS) is modeled as a savings variant of Sky Dollar (USDS). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
- Collateral
- USDS deposited into Sky's ERC-4626 savings vault; the wrapper remains fully backed by USDS while the exchange rate compounds with the Sky Savings Rate
- Peg mechanism
- Deposit USDS to mint sUSDS and withdraw USDS directly from the vault with no protocol fee; sUSDS and sDAI are both savings wrappers but are not exchangeable 1:1 because they have accrued different amounts of yield
- Jurisdiction
- Not disclosed in the static profile.
- Proof of reserves
- No proof-of-reserves entry in the static profile.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
sUSDS quick answers
5
What is Sky Savings USDS (sUSDS)?
sUSDS is the yield-bearing wrapper of Sky's USDS; the exchange rate compounds with the Sky Savings Rate, with USDS-tier CDP risk underneath. The static profile records its USDS-denominated NAV accounting mechanism as: Deposit USDS to mint sUSDS and withdraw USDS directly from the vault with no protocol fee; sUSDS and sDAI are both savings wrappers but are not exchangeable 1:1 because they have accrued different amounts of yield.
Is sUSDS safe?
As of Oct 24, 2026, Pharos grades sUSDS B (70/100) on its Safety Score. Pharos's reviews record that admin controls such as a pause or an upgradeable contract exist, though no power to freeze a specific holder was found, and any holder can use its reviewed redemption route. That grade is in the Score's upper band, which does not rule out losses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs sUSDS?
Pharos records sUSDS's reserves as of Sep 28, 2026 as 100% Sky Savings USDS idle underlying and under 0.1% Sky Savings USDS deployed strategy positions. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Crypto-Collateralized.
Can sUSDS be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, admin controls such as a global pause or an upgradeable contract are recorded, but the review found no active power to freeze or seize a specific holder's balance on material deployments.
How do you redeem sUSDS?
Under the route Pharos reviewed on May 17, 2026, any holder can redeem sUSDS for a single stable asset, such as cash or a stablecoin. Redemption settles atomically on-chain. The reviewed terms charge no percentage redemption fee. Whether a given holder qualifies is set by the route's own terms, not by this summary.
