#DeFiGetsGraded #DeFiGetsGraded S&P assigns the first ever credit rating to a DeFi protocol, Sky's rating is B-

S&P Global Ratings has assigned Sky Protocol a rating of B- with a stable outlook, marking the first time a credit rating agency has evaluated a DeFi protocol.

S&P Global Ratings assigned an issuer credit rating of B- (stable outlook) to Sky Protocol, a decentralized lending platform previously known as Maker Protocol, the first for the decentralized finance (DeFi) industry.

The Ethereum-based protocol issues the stablecoin USDS, created when borrowers place approved collateral. With a market capitalization of $7.1 billion, USDS is only behind USDT and USDC in size. Sky also offers savings vaults, allowing holders to earn income through savings US dollars (sUSDS).