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The position of the third largest stablecoin was usurped
The circulating supply of Sky Dollar (USDS) surpassed that of Ethena's USDe.
Sky Dollar (USDS), the stablecoin of the decentralized finance (DeFi) protocol Sky Ecosystem, surpasses the circulating supply of USDe, the stablecoin of Ethena.
In this way, USDS positions itself as the third largest stablecoin in the market, only surpassed by USDT and USDC, the digital dollars issued by Tether and Circle, respectively.
As reported by Crip toNot ics, the Sky Ecosystem protocol was previously known as MakerDAO, the issuer of the stablecoin DAI, which underwent a rebranding process to be called USDS.
The rebranding was to mark the beginning of a new stage for the protocol, incorporating not only a renewed identity but also improvements in its functions and in the rewards system.
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