Sky Approves Up to $2.5 Billion in USDS to Support New RWA Stablecoin Initiatives

Sky's Expansion Initiative: Sky, the rebranded successor to MakerDAO, has approved a $2.5 billion allocation in USDS to support crypto yield projects through Obex, a new Web3 incubator focused on real-world asset-backed stablecoins.

Obex's Incubation Program: The initiative includes an incubation program that will mentor teams developing yield-generating stablecoins on the Sky Protocol, utilizing high-quality real-world assets to create stable yield mechanisms.

Compliance and Risk Management: Teams that meet Sky's risk standards during the incubation can access additional capital, promoting compliance, transparency, and risk management in the RWA-backed stablecoin sector.

Sky's Market Position: The collaboration with Obex positions Sky as a key player in the development of institution-ready, yield-driven stablecoin products, reflecting its ambition to expand in the RWA and stablecoin markets.