Bubble
sUSDS SUSDS
sUSDS (SUSDS) was trading at $1.10, ranked #27 by market cap at $4.64B, with 24h volume of $717K.
Data snapshot: 2026-08-03 09:00 UTC.
sUSDS is the yield-bearing savings token of Sky (formerly MakerDAO). Deposit USDS and receive sUSDS in return; its value against USDS rises over time based on the protocol's Sky Savings Rate. It plays the same role sDAI played for DAI previously — a simple, protocol-native way to earn yield on Sky's stablecoin without using a separate lending market. sUSDS is the yield-bearing form of USDS: rather than paying interest into your wallet, the token itself becomes redeemable for more USDS over time, so the balance stays constant while the value per unit rises. That design matters for tax and accounting treatment in some jurisdictions and it is why sUSDS trades slightly above one dollar rather than at it. On a bubble map it appears in the stablecoin group but is not strictly pegged — its price should drift upward as yield accrues, which is the expected behaviour rather than a depeg.
Why is sUSDS worth more than a dollar?
It accrues yield inside the token rather than paying it out, so each unit is redeemable for a growing amount of USDS. Slow upward drift is the design working, not a peg failure.
How is it different from holding USDS?
USDS holds one dollar and pays nothing by itself; sUSDS represents a deposit earning the savings rate, so its redemption value rises over time.
Where does the yield come from?
From revenue the Sky protocol earns on the collateral backing its stablecoin, distributed through the savings rate set by governance.
Is sUSDS risk-free?
No. It carries the protocol's collateral and smart-contract risk, and the rate can change. A yield-bearing token is not a bank deposit.
Market cap decides how big a bubble is drawn, so rank is what places SUSDS on the map relative to the rest of its sector.
| Rank | Coin | Market cap |
|---|---|---|
| #22 | Ethena USDe (USDE) | $4.05B |
| #24 | Global Dollar (USDG) | $3.25B |
| #27 | sUSDS (SUSDS) | $4.64B |
| #28 | PayPal USD (PYUSD) | $2.78B |
| #33 | USDT0 (USDT0) | $4.06B |