Exploring the Sky Ecosystem - Sky's Multichain Initiative

An Overview of the Sky Ecosystem and the Sky Risk & Analytics Dashboard

Welcome back to another edition of “Exploring the Sky Ecosystem”. This series has two primary objectives: provide an overview of the Sky Ecosystem while explaining how to navigate the Sky Risk & Analytics Dashboard. In this post we explain how to track multichain data on Base and Solana.

Introduction

→ https://info.sky.money/multichain

The Sky Risk & Analytics Dashboard includes a “Multichain” page which provides an overview of Sky's multichain ecosystem. USDS is currently available on Ethereum Mainnet, Base, and Solana.

In this post we explore Sky’s multichain data by navigating through the following dashboard pages:

• Solana

• Base

• SkyLink

• PSM3 (Powered by Spark Liquidity Layer)

Solana

→ https://info.sky.money/multichain/solana

By selecting the “Solana” widget on the Multichain page, the user is directed to a dedicated Solana page. The Solana page provides total circulating supply as well as protocol widgets for where USDS is currently available. For instance, over $23.69 million USDS is held on Kamino Finance, around $18.54 million USDS on Drift Protocol, and approximately $5.48 million USDS on Save Finance.

Base

→ https://info.sky.money/multichain/base

On Base, native USDS and sUSDS is powered by SkyLink and the Spark Liquidity Layer (SLL). By selecting the Base widget on the Multichain page, the user is directed to a page with USDS and sUSDS data on Base.

Notice that the dashboard shows circa $50.40M worth of circulating supply, while $133.94M remains in the ALM Proxy and $16.41M in the PSM3. This reflects the mechanics of the SLL and PSM3 (more on this below).

Though classified as idle and excluded from the circulating supply, the SLL liquidity (in the ALM Proxy and the PSM3) is readily available for users looking to trade between USDC, USDS, and sUSDS.

SkyLink

→ https://info.sky.money/multichain/base/skylink

SkyLink is Sky’s official bridge solution, enabling transfers of USDS, sUSDS, and other Sky Ecosystem tokens from Ethereum Mainnet to other chains. The SkyLink page provides real-time tracking of assets bridged to Base, totaling approximately $200 million to date — primarily driven by the Spark Liquidity Layer.

PSM3 (Powered by Spark Liquidity Layer)

→ https://info.sky.money/multichain/base/psm3

The PSM3 page tracks PSM3 liquidity on Base. PSM3 liquidity is facilitated by the Spark Liquidity Layer, allowing users to access the Sky Savings Rate by swapping into sUSDS directly on Base.

As the Spark Liquidity Layer and SkyLink expand USDS support to new networks, BA Labs will update the dashboard to reflect all the latest changes.

Get the latest insights with real-time data on the Sky Risk & Analytics Dashboard:

→ https://info.sky.money/multichain

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