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Sky Protocol TVL Drops 15% in One Week as USDS Supply Shrinks
(5 hours ago) · 1 source · Summarized by CryptoBipto
Sky, the DeFi protocol formerly known as MakerDAO, has seen its total value locked decline by 15% over the past week. The drop is linked to a contraction in the supply of USDS, the protocol's stablecoin.
WHY IT MATTERS
In decentralized finance (DeFi), protocols let people lend, borrow, and trade crypto without traditional banks.
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SOURCES
- thedefiant.io
RELATED
USDSDeFiStablecoinsTVLMakerDAO
Learn the concepts behind this
Clear explanations of the subjects this article touches, with every term defined.
- What is DeFi, and how does decentralized finance work?Decentralized finance explained: liquidity pools, yield farming, impermanent loss, DAOs and governance tokens, each with its own definition page.
- What are stablecoins, NFTs and tokenized assets?What stablecoins are and how they hold a steady value, what an NFT represents, and what it means to tokenize a real-world asset.