Sky Reports More Than $4.4 Billion in Peg Stability Liquidity

Sky’s Peg Stability Module held more than $4.4 billion in liquidity as of Oct. 9, 2026, separating the amount available for USDS-USDC conversion from the bank cash accessible through a separate redemption process. The module provides two-way USDS and USDC conversions at a 1:1 rate. Sky does not impose swap fees or price slippage on direct PSM conversions, but users may still incur blockchain network charges. Because the liquidity is held within Sky Protocol, a conversion does not require another trader to take the opposite side.