What do you think about USDS stablecoin?

[Ota.collins]

Stablecoins don't get as much attention as most cryptocurrencies as many don't see any profit potential in holding stablecoins but some stablecoins have changed this narrative.

USDS which is a stablecoin is quite different from others. From doing some research on it I discovered that USDS holders can earn rewards through Sky Token Rewards, where supplying USDS to the Sky Token Rewards module grants SKY governance tokens over time.

You can check it out here https://sky.money/. This can be a great way to hold your profits when the bear market comes as you continue to make profits while holding the stablecoin.

I am now curious to know how many stablecoins offer this. Having more than one can help with comparison. Kindly share if you have come across any others, and also what your thoughts are.

[Charles-Tim]

USDS which is a stablecoin is quite different from others. From doing some research on it I discovered that USDS holders can earn rewards through Sky Token Rewards, where supplying USDS to the Sky Token Rewards module grants SKY governance tokens over time.

This is not new about stable coins. There are some stablecoins that you can stake or hold and earn reward. But you should be careful of all these coins. Especially during bear market which might make them lose the peg or fall than expected. I may be wrong but be careful of the coins.

[TastyChillySauce00]

Stablecoins don't get as much attention as most cryptocurrencies as many don't see any profit potential in holding stablecoins but some stablecoins have changed this narrative.

I don't think stablecoin didn't get as much attention, so far stablecoin projects always have high FDV in their governance token as well as interested many people to stake their stablecoin either by looping (leverage) through vault or staking it directly.

I am now curious to know how many stablecoins offer this. Having more than one can help with comparison. Kindly share if you have come across any others, and also what your thoughts are.

I think ethena stablecoin offer good APR and they've held many phase of staking campaign where they will reward you with token, usual money also doing the same but recently there has been so many fud since the team is doing "something" with their usd0++.
right now the one that's still in a phase is resolv. but AFAIK almost all of recently released stablecoin offers token as a reward for staking, and with bigger backing and FDV compared to the one you mentioned.

[hugeblack]

USDS which is a stablecoin is quite different from others. From doing some research on it I discovered that USDS holders can earn rewards through Sky Token Rewards, where supplying USDS to the Sky Token Rewards module grants SKY governance tokens over time.

You can check it out here https://sky.money/. This can be a great way to hold your profits when the bear market comes as you continue to make profits while holding the stablecoin.

Or it could be a terrible way to lose money if USDS drops below $1, in fact the consequences would be catastrophic for SKY governance tokens which would be sold off in an attempt to reclaim the $1 peg. In other words, after what happened with LUNA it is hard to trust any new stablecoin pair.

[JeffBrad12]

Or it could be a terrible way to lose money if USDS drops below $1, in fact the consequences would be catastrophic for SKY governance tokens which would be sold off in an attempt to reclaim the $1 peg. In other words, after what happened with LUNA it is hard to trust any new stablecoin pair.

this is valid reason to worry about trusting any stablecoin that's not purely backed by real reserve and stop at just that.
so many stables in the market right now actually just minted from USDC or USDT 1:1, so basically we are having one more point of failure just for the sake of additional little yield.
I don't think it's worth it. that's why I also won't trust any stablecoin easily except the one that's already reliable for trading and so on.

[Ota.collins]

USDS which is a stablecoin is quite different from others. From doing some research on it I discovered that USDS holders can earn rewards through Sky Token Rewards, where supplying USDS to the Sky Token Rewards module grants SKY governance tokens over time.

This is not new about stable coins. There are some stablecoins that you can stake or hold and earn reward. But you should be careful of all these coins. Especially during bear market which might make them lose the peg or fall than expected. I may be wrong but be careful of the coins.

This is kinda true, in the bear market most of these stablecoins often face challenges and they fade out. We need to be careful on this then.

[AVE5]

I don't understand what you mean by stable coin not gaining attention. As much as I know, stable coins isn't as much currency to invest on unlike the highily volatile cryptocurrencies and the bitcoin.
Cryptocurrencies are volatile which gives it the hedge to provide profits for investors which s high demands of investment risks while stable coins is tied to hedge the cryptocurrencies on less volatile value.
It's like the fiat of it own in a solid rate but can only be affected by the economy rates.
I'm not going to make any comparison of the stable coins on each unique offers because they all serves same rather if you talk about interest rates of holding a stable coin then I see it to lie on the platforms farming to earn on interest rates.
If I just say, the USDT has been a most dominance stable coin and it's doing so well to hold values stably.

[ultrloa]

USDS which is a stablecoin is quite different from others. From doing some research on it I discovered that USDS holders can earn rewards through Sky Token Rewards, where supplying USDS to the Sky Token Rewards module grants SKY governance tokens over time.

You can check it out here https://sky.money/. This can be a great way to hold your profits when the bear market comes as you continue to make profits while holding the stablecoin.

Or it could be a terrible way to lose money if USDS drops below $1, in fact the consequences would be catastrophic for SKY governance tokens which would be sold off in an attempt to reclaim the $1 peg. In other words, after what happened with LUNA it is hard to trust any new stablecoin pair.

Those incident is somehow need to pay close attention since we don't know how everything well end up. We have that LUNA before which many people think a good project but suddenly it drops down and there are so many people got liquidated or burned due to that situation.

Better for people to grab USDT and USDC or more better if they just don't trust that stable coins then just directly go with Bitcoin because we know that this coin is most reliable compare to any altcoins or crypto coins in the market.

[fikrett]

Or it could be a terrible way to lose money if USDS drops below $1, in fact the consequences would be catastrophic for SKY governance tokens which would be sold off in an attempt to reclaim the $1 peg. In other words, after what happened with LUNA it is hard to trust any new stablecoin pair.

LUNA was a classic bank-run scenario.
Rapid withdrawals were the cause of the destabilization. And once we see that high APY somewhere, we surely need to reconsider our odds of going into such a project.

[Icey_stones]

Stablecoins don't get as much attention as most cryptocurrencies as many don't see any profit potential in holding stablecoins but some stablecoins have changed this narrative.

USDS which is a stablecoin is quite different from others. From doing some research on it I discovered that USDS holders can earn rewards through Sky Token Rewards, where supplying USDS to the Sky Token Rewards module grants SKY governance tokens over time.

You can check it out here https://sky.money/. This can be a great way to hold your profits when the bear market comes as you continue to make profits while holding the stablecoin.

I am now curious to know how many stablecoins offer this. Having more than one can help with comparison. Kindly share if you have come across any others, and also what your thoughts are.

Stablecoins usually don’t get much attention because they are seen as “safe,” but USDS is definitely changing the game. It is not just a stablecoin to hold your funds, it is actually a way to grow them. I checked out the link you sent and saw the Sky Savings Rate gives you even better yields than the old Dai Savings Rate.

What really stands out for me is the real-time proof-of-reserves it is refreshing to see that level of transparency and the fact that it is non-custodial is mind blowing. Plus, upgrading DAI to USDS is super easy at a 1:1 ratio through Sky Money, and you can trade it against other tokens like USDC and ETH without hassle. It is also great to see that USDS is listed on major exchanges exchanges like Bitget and Upbit.

Well to answer your question there are a few like LUSD,USDD, sUSD but USDS still standout as the best amongst them

What do you think about the ones i mentioned?

[TastyChillySauce00]

Or it could be a terrible way to lose money if USDS drops below $1, in fact the consequences would be catastrophic for SKY governance tokens which would be sold off in an attempt to reclaim the $1 peg. In other words, after what happened with LUNA it is hard to trust any new stablecoin pair.

LUNA was a classic bank-run scenario.
Rapid withdrawals were the cause of the destabilization. And once we see that high APY somewhere, we surely need to reconsider our odds of going into such a project.

it seems right now most of stablecoin are already anticipating such incident to occur again with timed redeem and backed with t-bill, and so on.
but I would only trust stablecoin provider that at least got high TVL and isn't lowkey shady, the fact that when I hold a stablecoin essentially means I got no benefit of capital growth and have no APY means i'm risking my money for absolutely no reason if I'm holding stablecoin coming from inferior stablecoin provider than the one that's already in the market for long.

[adultcrypto]

Stablecoins don't get as much attention as most cryptocurrencies as many don't see any profit potential in holding stablecoins but some stablecoins have changed this narrative.

USDS which is a stablecoin is quite different from others. From doing some research on it I discovered that USDS holders can earn rewards through Sky Token Rewards, where supplying USDS to the Sky Token Rewards module grants SKY governance tokens over time.

You can check it out here https://sky.money/. This can be a great way to hold your profits when the bear market comes as you continue to make profits while holding the stablecoin.

I am now curious to know how many stablecoins offer this. Having more than one can help with comparison. Kindly share if you have come across any others, and also what your thoughts are.

Instead of using this method, I rather keep my money in bitcoin and other notable altcoins like XRP, Solana, XLM and others. These might be volatile but I know that my money will not disappear because staking is done in centralized exchanges which if anything happen to the exchange, you lose everything you have in there. The profits from staking my money in such a system is not worth the risk because in business, you have to properly access the risk while making your business decisions.

[dansus021]

What do you think about USDS stablecoin? Usds is new stablecoin from sk money rebrand from the maker dao ane the stablecoin is rebranding from the dai although the ddai an maker dao still alive and widly adopted

Usds can earn money while you holding i believe or can earn your money by staking if i dont mistaken in sky.money

But reality usds is not gain much attention like dai

[Icey_stones]

Stablecoins don't get as much attention as most cryptocurrencies as many don't see any profit potential in holding stablecoins but some stablecoins have changed this narrative.

USDS which is a stablecoin is quite different from others. From doing some research on it I discovered that USDS holders can earn rewards through Sky Token Rewards, where supplying USDS to the Sky Token Rewards module grants SKY governance tokens over time.

You can check it out here https://sky.money/. This can be a great way to hold your profits when the bear market comes as you continue to make profits while holding the stablecoin.

I am now curious to know how many stablecoins offer this. Having more than one can help with comparison. Kindly share if you have come across any others, and also what your thoughts are.

Instead of using this method, I rather keep my money in bitcoin and other notable altcoins like XRP, Solana, XLM and others. These might be volatile but I know that my money will not disappear because staking is done in centralized exchanges which if anything happen to the exchange, you lose everything you have in there. The profits from staking my money in such a system is not worth the risk because in business, you have to properly access the risk while making your business decisions.

That is a valid point and I respect your approach. Bitcoin and altcoins like XRP and Solana are solid picks for those prioritizing control, even with the volatility. While I see the appeal of staking with USDS due to its transparency and non-custodial nature, I agree it comes down to my personal risk tolerance. 

What is your outlook on Solana and XRP this year? Would love to know your target

[hugeblack]

I don't understand what you mean by stable coin not gaining attention. As much as I know, stable coins isn't as much currency to invest on unlike the highily volatile cryptocurrencies and the bitcoin.

Most likely,@op means that there is liquidity for that pair so that it is available on most platforms, but the problem is that in order to use a new stablecoin pair, it needs to give a high APY to attract liquidity, but such high returns mean that the project may lose liquidity and thus break the link, which means that investors lose their money.

[sunsilk]

Most stablecoins if deposited or staked onto platforms that offers those rewards, the depositor will get some portion of it depending on how much APY they are given.

But if it's about its own platform, it's best to simply use those stable coins for their own purpose of keeping the value of how much you've stored in there.

I'd avoid most of the stable coins that are new to me because there is a big chance that they might be depegged.

[Hispo]

USDS which is a stablecoin is quite different from others. From doing some research on it I discovered that USDS holders can earn rewards through Sky Token Rewards, where supplying USDS to the Sky Token Rewards module grants SKY governance tokens over time.

This is not new about stable coins. There are some stablecoins that you can stake or hold and earn reward. But you should be careful of all these coins. Especially during bear market which might make them lose the peg or fall than expected. I may be wrong but be careful of the coins.

That is right. In general one needs to be careful with stablecoins which are proven to be unreliable and lacking of enough liquidity to carter massive burning of the token in exchange of actual Fiat in bank accounts or cash.
If an stablecoin or a platform which holds your stablecoins start to offer unrealistic yields for doing nothing with your money, then it is a red flag for one to withdraw those stablecoins off there into a personal non-custodial wallet.
There have already been many examples of webpages which failed to provide their yields and ended up taking reckless trading strategies to keep their yield in the mid term, the end result is always people losing access to their hard-earned money and the company files for bankruptcy, washing it's hands in front of the defrauded investors.

Not all Ponzis or scams are so obvious and many are disguised with a lot of technical speech and buzzwords to distract our common sense and wake up our greed.