Odaily Planet Daily News Sky released a report stating that it recorded a net loss of $5 million in the first quarter of 2025. This performance stands in stark contrast to the previous quarter's net profit of $31 million. The primary reason for the loss is that the cost of interest payments to token holders has more than doubled, stemming from Sky's decision to incentivize the use of its new stablecoin USDS instead of the existing DAI. The report notes that while Sky offers a higher USDS yield to attract users, this has led to a decline in the protocol's profitability, especially if the lending demand for USDS fails to grow correspondingly. (CoinDesk)