What Is USDS (USDS)?
USDS is the stablecoin of the Sky Protocol, designed as an upgraded version of DAI to enhance stability, scalability, and usability in decentralized finance (DeFi). It is a collateral-backed digital asset that maintains a soft peg to the US dollar, meaning its value is intended to stay close to $1.
Unlike traditional fiat-backed stablecoins, USDS is created through smart contracts and operates within a decentralized, non-custodial system, ensuring users maintain full control over their funds. It plays a central role in the Sky Ecosystem, allowing users to trade, save, and earn rewards while participating in DeFi without reliance on centralized institutions.
How USDS Works
USDS is generated through the Sky Protocol’s collateralized debt system, where users deposit accepted crypto assets such as ETH, USDC, or tokenized real-world assets (RWAs) into Sky Vaults to mint USDS. Each USDS token is backed by a surplus of collateral, helping maintain price stability and preventing under-collateralization. If the collateral value drops below a required threshold, the protocol automatically liquidates the assets to protect the system.
USDS holders can earn passive income by staking USDS in the Sky Savings Rate (SSR) module, which provides a variable interest rate, or by participating in Sky Token Rewards (STRs), which distribute additional incentives based on USDS supply and demand.
Who Are the Founders of USDS?
USDS was developed by Sky Protocol, which emerged from MakerDAO, a DeFi project founded by Rune Christensen in 2015.
How Many USDS (USDS) Tokens Are in Circulation?
USDS is available on various exchanges. It has a circulating supply of 7.22 billion tokens.
How to Buy USDS (USDS) on Bitget?
Consider investing in USDS (USDS)? Follow these steps:
1. Create an account on Bitget .
2. Verify your identity.
3. Deposit funds.
4. Check out the available USDS trading pairs on Bitget.
Is USDS Safe?
USDS is collateral-backed and managed through smart contracts, which help maintain its stability and security. However, like any cryptocurrency, it carries risks such as market fluctuations and potential smart contract vulnerabilities.
Simple 3-step guide to buying USDS today in Ecuador
Create your free Bitget account
Select a funding method
Complete your USDS purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for USDS using a payment method of your choice:
Buy USDS with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your USDS order.
How to buy crypto with credit/debit cardBuy USDS with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into USDS is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your USDS order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your USDS order.Buy USDS with the fiat balance in your Bitget account
You can Deposit fiat funds using Advcash, SEPA, Faster Payments, or PIX payment gateways to top up your Bitget fiat balance. Then, click Buy Crypto > [Cash conversion] in the top navigation bar to place your USDS order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor USDS in your Bitget spot wallet
Bitget—where the world trades USDS
How to buy USDS for free
- Learn how to earn USDS for free through the Learn2Earn promotion
- Earn free USDS by inviting friends to join Bitget's Assist2Earn promotion
- Receive free USDS airdrops by joining On-going challenges and promotions
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FAQ
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Ecuador, officially the Republic of Ecuador, is a country in northwestern South America. It is bordered by Colombia on the north, Peru on the east and south, and the Pacific Ocean on the west. Since 2000, Ecuador has adopted the United States Dollar (USD) as its only official currency, and with USD, you can purchase cryptos on Bitget within minutes.
Boasting thousands of species of flora and fauna, Ecuador is considered one of the 17 countries with the highest concentrated biodiversity and the largest country with diversity per square kilometer in the world. It is also home to the Galápagos Islands, a UNESCO World Heritage Site whose distinct fauna gave birth to Darwin's Theory of Evolution.
Quito, Guayaquil, and Cuenca are the three largest cities in Ecuador in their respective order, each with a population of over half a million. Most Ecuadorians speak Spanish as their first language, which is natively supported by Bitget app and website.
Whether you're embracing nature in Ecuador's breathtaking National Parks or exploring historical centers in Ecuador's iconic Toquilla straw hats, there is no better place to trade cryptocurrencies or crypto futures than right here with Bitget. Our exchange uses a variety of secure methods, including P2P trading, crypto deposits, and other third-party merchants, such as Apple Pay, Google Pay, and numerous credit cards, to offer you plenty of payment options with proven security.