Sky’s total value locked fell about 15% in the week ended Nov. 7 to $4.42 billion, according to DefiLlama’s daily series, as the stablecoin protocol’s USDS supply also contracted.
The dollar value of assets tracked by DefiLlama dropped from $5.20 billion on Oct. 31, a decline of roughly $778 million. Separately, the provider’s USDS supply series shows circulating supply falling from $6.45 billion to $5.59 billion over the same dates, or about 13.4%. The supply contraction shows that the retrenchment extended beyond a change in the dollar valuation of collateral, although it does not establish how much of the TVL decline came from redemptions or withdrawals.
For savers, the smaller tracked asset base does not automatically translate into a lower yield. Sky.money lists a 3.80% annual percentage yield for sUSDS, the token users receive when supplying USDS to the savings module. The Sky Savings Rate is set by governance and funded from aggregate protocol surplus rather than automatically adjusting to borrowing demand.
