Global S&P ratings assigned a B- (Stable perspective) Credit qualification of the issuer to the Sky protocol, the decentralized loan platform previously known as Maker protocol, in the first for decentralized finance (Defi) industry.
The Ethereum -based protocol issues the USDS Stablecoin, created when the borrowers after the guarantee approved the guarantee. With a market capitalization of $ 7.1 billion, USDS Sana only the USDT and USDC. Sky also offers savings vaults, allowing holders to gain performance through USDS savings (SUDS).
Jonathan Manley, chief of world dissemination of S&P market, described the qualification as a “significant milestone” that will help provide greater transparency to Defi.
The measure occurs when S&P expands its coverage in blockchain -based finances, recently classifying treasure funds and blockchain mortgage runs. Sky is in itself an investor in the products of the Treasury Treasury of Janus Henderson.
S & P’s stablecoin S&P stability stability (constrained) On a five -point scale.
The qualification underlines a growing overlap between the traditional credit analysis and the evolving defi market.
