Bitgo plans to launch its new stablecoin, USDS, in January 2025, offering a unique model that rewards liquidity providers. The announcement was made by Bitgo CEO Mike Belshe during an interview with Coindesk at the Token2049 event in Singapore. The stablecoin will be backed by U.S. Treasury bills, overnight repos, and cash, aiming to create…
Crypto custodian BitGo is set to enter the stablecoin market with plans to launch a dollar-backed USDS stablecoin by 2025, according to a Sept. 18 statement. USDS BitGo stated that USDS will be fully backed by short-term Treasury bills, overnight repos, and cash, ensuring both high liquidity and minimal risk. The firm also plans to…
Leading DeFi protocols Aave and Sky (formerly MakerDAO) have partnered to launch Sky Aave Force, aiming to bridge the gap between decentralized finance and traditional financial systems. In a statement on Sept. 3, the initiative was described as a crucial step toward creating a more resilient and aligned ecosystem, with goals of broader accessibility, increased…
The Gnosis Chain community is reconsidering gas tokens due to USDS’s centralization concerns. Chainlink’s CCIP and Automation now operate on Gnosis, boosting blockchain development. The Gnosis Chain community is at a critical juncture as it reconsiders its gas token selection in light of important developments inside the MakerDAO ecosystem. With the debut of MakerDAO’s new…
The decentralized finance (defi) lending platform Makerdao is embracing a new identity, rebranding as Sky, according to co-founder Rune Christensen. Along with the fresh name, the platform will introduce two new assets: a stablecoin dubbed USDS and a governance token named SKY, both slated for a mid-September launch. Sky Unveils USDS and SKY Tokens Amid…