The S&P global dimensions have awarded a B- (Stable outlook) Credit issuer to the transmitter at Sky Protocol, the decentralized loan platform formerly known as the Maker Protocol, in a first for decentralized finance (Challenge) industry.
The protocol based on Ethereum emits the stablecoin of the USDS, created when borrowers publish approved guarantees. With a market capitalization of $ 7.1 billion, USDS only follows USDT and USDC. Sky also offers savings chests, allowing holders to gain return via savings USDs (SUSDS).
Jonathan Manley, a global manager for raising awareness of the S&P market, has described the rating an “important step” which will help bring greater transparency to DEFI.
This decision comes as S&P extends its coverage in blockchain -based finance, recently evaluating tokenized treasury funds and blockchain mortgage titles. Sky is himself an investor in token cash products from Janus Henderson.
The stable stable stable assessment of S&P rate of the USDS PEG maintenance capacity at 4 (forced) On a five -point scale.
The rating underlines the growing overlap between traditional credit analysis and the evolution of the DEFI market.
