#DeFiGetsGraded

In a move that is the first of its kind, "S&P Global" has granted a credit rating of "-B" to the "Sky Protocol," formerly known as "MakerDAO," making it the first global rating agency to assess a decentralized protocol in the decentralized finance (DeFi) sector.

This rating is part of the stablecoin stability assessment program launched by the agency in 2023, which aims to measure the ability of cryptocurrencies like USDS and DAI, which are part of the Sky Protocol, to maintain their value against traditional currencies like the U.S. dollar.