Dai or USDS

[dim_mak5]

Hi,

Is USDS truly decentralized like Dai is?

Where can I see and audit USDS reserves to backup their USDS coins?

Any chance of USDS breaking their PEG?

Is there a way to earn % on USDS without giving up your private keys?

Which network USDS is on?

[Sanitough]

Hi,

Is USDS truly decentralized like Dai is?

I think USDS is the new name of DAI, because upon checking the CMC, this is what I see.

https://coinmarketcap.com/currencies/usds/

Dai (DAI) has been rebranded to Usds (USDS). For more information, please refer to this article and post.

Which network USDS is on?

It's under ethereum network.
https://etherscan.io/token/0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD

[dim_mak5]

Hi,

Is USDS truly decentralized like Dai is?

I think USDS is the new name of DAI, because upon checking the CMC, this is what I see.

https://coinmarketcap.com/currencies/usds/

Dai (DAI) has been rebranded to Usds (USDS). For more information, please refer to this article and post.

Which network USDS is on?

It's under ethereum network.
https://etherscan.io/token/0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD

Can USDS be frozen by Sky? Can they freeze a USDS in a address where you control the keys?

[BitMaxz]

Can USDS be frozen by Sky? Can they freeze a USDS in a address where you control the keys?

Since DAI is decentralized, it can't be frozen, but I don't know about this new USDS; they rebranded this DAI to USDS, and I can only gather less information on Google and in their social media accounts about this.
According to some posts in Sky, USDS is decentralized, so it can't be frozen, I guess.

[TastyChillySauce00]

as other already mentioned, it's just DAI rebranding to USDS although DAI is also still in the market, it seems you can mint USDS with your DAI as well.
so basically speaking about reserves it's the same thing as DAI and it's also available on solana, arb, base and eth.

Is there a way to earn % on USDS without giving up your private keys?

why should giving up your private key? any staking or promise of APR that requires you to give private key is an obvious scam.

[hugeblack]

Please read this for more info ---> https://forum.sky.money/t/sky-has-arrived/24959

USDS can be upgraded from Dai or converted from USDC at a 1:1 ratio, on Sky.money and other frontends. USDS can also be converted back to Dai. Upgrading is optional.

Given that USDS is decentralized and offers numerous staking options, unfortunately, many similar projects have ended badly. You can find more information at the link above, but for now, it's best to stick with DAI.

[dim_mak5]

Can USDS be frozen by Sky? Can they freeze a USDS in a address where you control the keys?

Since DAI is decentralized, it can't be frozen, but I don't know about this new USDS; they rebranded this DAI to USDS, and I can only gather less information on Google and in their social media accounts about this.
According to some posts in Sky, USDS is decentralized, so it can't be frozen, I guess.

How can something that is Decentralized be Rebranded? It is like changing the colour of the Bitcoin Logo from Orange to Pink, who can change the bitcoin logo from orange to pink for example when its decentralized?

as other already mentioned, it's just DAI rebranding to USDS although DAI is also still in the market, it seems you can mint USDS with your DAI as well.
so basically speaking about reserves it's the same thing as DAI and it's also available on solana, arb, base and eth.

Is there a way to earn % on USDS without giving up your private keys?

why should giving up your private key? any staking or promise of APR that requires you to give private key is an obvious scam.

So USDS is also available on Solana, Arb, Base and Eth networks and Dai is just available on Eth network?

If for example I have a $Billion dollars of USDS in a wallet where I control the keys on the ERC20 Ethereum POS network, then the price of Ethereum crashes, Will the Validators with the most Eth on the Eth Network Un-Stake their Eth and Panic sell their Eth and will this cause the USDS to De-Peg from $1? Or will my wallet address be affected by Eth network issues such as network becoming unsecure, more hacks? Shall I assume when Eth crashes in price then the whole Eth De-Fi ecosystem and ERC20 tokens will crash too meaning its a goodbye to my $Billion dollars?

Dai says it uses over Collateralization, however if the value of those ERC20 Collateralization drops rapidly then what happens to Dai?

Please read this for more info ---> https://forum.sky.money/t/sky-has-arrived/24959

USDS can be upgraded from Dai or converted from USDC at a 1:1 ratio, on Sky.money and other frontends. USDS can also be converted back to Dai. Upgrading is optional.

Given that USDS is decentralized and offers numerous staking options, unfortunately, many similar projects have ended badly. You can find more information at the link above, but for now, it's best to stick with DAI.

Do you know where Sky HQ are located?

You mean De-Fi projects or tokens under USDS ended badly or theres issues with USDS itself?

Trump wants its Government to support Stablecoins issued by US Banks and US companies only. How do SKY and their USDS align with this?

[moderator's note: consecutive posts merged]

[asriloni]

As far as i know USDS is an upgraded version from DAI. It uses the different code, and have ability to get contract upgrade. It has no frozen function on its code now, but such capability can be implemented through upgrading its contract.

It's safe to use it now, but always take a look at the recent development by sky team. An order by the goverenment can force them to implement the frozen function into USDS. It means USDS is not truly decentralized.