S&P global rating assigned a B- (Stable outlook) Credit ratings for Sky Protocol, decentralized borrowing platform was previously known as a maker protocol, for the first time for decentralized finance (Defee) Industry.
Ethereum-based protocol releases USDs StableCoin, when the borrowers approved the collateral. With $ 7.1 billion market cap, USDS trails only in USDT and USDC size. Akash also provides savings vault, which is able to earn the yield through saving USD to the holders. (Susds),
Jonathan Manley, S&P’s Global Head of Market Outreach, called the rating a “important milestone”, which will help bring more transparency to DEFI.
This step expands its coverage in the S&P blockchain-based finance, rating the recent rating token treasury funds and blockchain mortgage securities. Sky itself is an investor in Janus Henderson’s token Treasury products.
Different stabcoin stability assessment rate of S&P at the pegs of USDs at 4 (Forced) On the five-point scale.
Rating outlines the growing overlap between traditional credit analysis and developing DEFI market.
