sUSDS (SUSDS)
Unlock Schedule
sUSDS (SUSDS) Token Unlock & Vesting Schedule
The unlock chart above provides a clear visual overview of the sUSDS (SUSDS) token release schedule, showing when and how tokens enter circulation across investor, team, treasury, and community allocations. Understanding these tokenomics dynamics is critical for evaluating potential supply pressure, inflation impact, and market liquidity over time — key factors that can influence SUSDS price performance.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
A supply shaped by deposits
sUSDS has a deposit-and-redemption model. Supplying USDS creates a savings position represented by sUSDS; redeeming that position returns USDS. Its supply therefore reflects participation in the savings module rather than a fixed allocation released on a preset schedule. Because each token’s USDS redemption value can change over time, one sUSDS and one USDS are not interchangeable at a permanent one-to-one rate. (developers.skyeco.com)
The token’s main utility is access to the Sky Savings Rate in a form that can be held and transferred. Governance belongs to SKY, a separate token. Sky’s Ethereum sUSDS deposit-and-withdrawal route assesses no protocol fee, while blockchain transactions require network gas. Through Sky.money, holders can redeem sUSDS for USDS without a savings lockup or maturity date. (developers.skyeco.com)
Assumptions
- sUSDS supply is uncapped and entirely demand-driven by user deposits/withdrawals.
sUSDS is an ERC-4626 vault share for the Sky Savings Rate; tokens are minted on deposit and burned on redeem/withdraw. There is no fixed cap or predefined emission schedule.
- Yield does not mint more sUSDS; it increases the asset-per-share (USDS per sUSDS).
Sky Savings Rate adds USDS to the pool; the sUSDS token tracks shares, so value accrues via share price rather than supply growth.
- Genesis date set to 2024-09-18 as the public launch window for Sky tokens/products including sUSDS.
Maker/Sky governance launch proposal scheduled token/product launch around Sept 17–18, 2024; the sUSDS proxy was created earlier in September, but launch aligns with governance timing.
- Allocation totals reflect Ethereum mainnet sUSDS supply only as of 2025-10-09.
sUSDS also exists on Base via SkyLink bridge with tokens minted on L2 against L1 escrow. To avoid double counting in a global series, this chart excludes L2 representations and models only the L1 vault share supply.
- 1. https://developers.sky.money/core-protocol/susds/
- 2. https://developers.sky.money/deployments/deployment-tracker
- 3. https://developers.sky.money/guides/skylink/base-eth-native-bridge/
- 4. https://etherscan.io/token/0xa3931d71877C0E7a3148CB7Eb4463524FEc27fbD
- 5. https://basescan.org/token/0x5875eEE11Cf8398102FdAd704C9E96607675467a
- 6. https://vote.makerdao.com/polling/QmTySKwi
- 7. https://sky.money/
Allocations
Description
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sUSDS is a tokenized representation of USDS deposited in the Sky Savings Rate (SSR) offered by Sky. It allows users to receive returns on their SSR deposits while still being able to transfer, stake, lend, and use it in any way they want.
| Sector: | RWA |
| Blockchain: | Ethereum |