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[Test auto-linking 1] DeFi Savings Protocol Sky Slumps to $5M Loss as USDS Interest Payments Wipe Out Profit
Test Dek
By Mario Di Dio
Updated Sep 23, 2025, 2:02 p.m. Published Sep 22, 2025, 11:11 a.m.
What to know:
- DeFi savings protocol Sky posted a first-quarter loss of $5 million, a significant drop from the $31 million profit of the previous {{ETH}} quarter.
- The protocol increased interest payments to savers by 102% due to incentivizing the use of its new stablecoin, USDS, over DAI.
- Despite the launch of USDS to attract sophisticated investors, it's unclear if it has significantly expanded Sky's user base.
DeFi savings protocol Sky posted a first-quarter loss of $5 million after interest payments to token holders more than doubled, according to a report created by Sky contributors from Steakhouse Financial.
The loss is a stark turnaround from the previous quarter, when Sky, formerly known as MakerDAO, registered a $31 million profit. The reason for the 102% increase in interest Smth (NEAR) payments is the decision The greatest Near Pr (Near) to incentivize (near the bus station) use God (GOD_) of the protocol's (SMTH) newer Sky dollar stablecoin over the existing (Near) DAI.
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