USDS price

#13 in the top 100Stablecoin

$1.00+0.02%

Data as of November 11, 2026, 02:11 UTC+3, the price refreshes on the page

USDS is the US dollar stablecoin of the Sky protocol, formerly MakerDAO.

Market cap: $8.55B
24h volume: $198.9M
Volume / market cap: 2.33%
Fully diluted value: $8.55B
Circulating supply: 8.55 B USDS
Total supply: 8.55 B USDS
Max supply: no cap
24h range: $0.9996 … $1.00
All-time high: $1.06October 28, 2024

USDS chart

1 hour−0.01%

24 hours+0.02%

7 days+0.01%

30 days+0.04%

1 year+0.02%

Price in US dollars, data from CoinGecko

Analytics

What the numbers say about how the coin behaves. Based on hourly prices over 7 days and data as of November 11, 2026, 02:11 UTC+3.

Volatility

1%near zero

The price barely moves, as a stablecoin should.

Dollar peg

$1.00holding

Now 0.00% away from $1, at most 0.04% over 7 days.

Liquidity

2.3%normal

A day’s trading equals 2.3% of market cap: a stablecoin is used for settlement, so heavy turnover is normal.

Market share

0.35%small

Share of the top-100 market cap.

What is USDS

USDS is a stablecoin designed to stay at one US dollar. It is issued by Sky, the protocol known until August 2024 as MakerDAO, which created DAI, one of the first decentralized stablecoins. USDS went live in September 2024 as an upgraded version of DAI, and holders can swap DAI for USDS and back at a fixed one-to-one rate with no fee. Protocol rules are set by votes of SKY governance token holders.

There is no company holding dollars in a bank account behind USDS. Smart contracts mint it: a user locks collateral in a protocol vault and draws USDS against it, and the collateral must be worth more than the USDS issued. USDS can also be minted one-to-one for USDC through the Peg Stability Module. The protocol’s backing mixes crypto assets such as ETH, tokenized US Treasury bills and other stablecoins, mostly held in the Peg Stability Module. The main contract lives on Ethereum, and bridges make the token available on Base, Arbitrum and Solana.

USDS serves as a dollar unit across DeFi for lending, swaps and liquidity pools. Holders can deposit it into the savings module and receive sUSDS, whose value in USDS grows at the Sky Savings Rate set by governance. Unlike USDT or USDC, USDS has no single issuer with bank reserves, yet it is not fully independent either: part of the backing is other stablecoins and assets held by traditional custodians. Another difference from DAI is upgradeability: the DAI contract cannot be changed, while governance can modify the USDS contract.

What it’s used for

payments and transfers in dollar terms
lending, swaps and liquidity pools in DeFi
savings via sUSDS at a rate set by Sky governance
one-to-one conversion to and from DAI

Risks

the price can drift from one dollar if collateral prices crash or a smart contract fails
part of the backing depends on outside firms: the issuers of reserve stablecoins such as USDC and the custodians of tokenized Treasuries
the USDS contract is upgradeable, so a governance vote could add a freeze function, an option discussed at launch

Contract addresses

Check the contract address before you buy or send: fake tokens copy the name and ticker, but their address is different.

Network	Contract	Open
Ethereum (ERC-20)	`0xdc035d45d973e3ec169d2276ddab16f1e407384f`	Open
Solana (SPL)	`USDSwr9ApdHk5bvJKMjzff41FfuX8bSxdKcR81vTwcA`	Open
Base	`0x820c137fa70c8691f0e44dc420a5e53c168921dc`	Open
Arbitrum One	`0x6491c05a82219b8d1479057361ff1654749b876b`	Open

Check a USDS address before the deal

mexm AML shows where the coins came from: scams, darknet, mixers, sanctions. Networks: Ethereum (ERC-20). First check free.

Check an address

Questions

How much is USDS worth today?

As of November 11, 2026, USDS trades at $1.00. Over 24 hours the price moved +0.02%, over 7 days +0.01%. The price on this page refreshes automatically.

How many USDS are in circulation?

8.55 B USDS are in circulation. There is no maximum supply. The fully diluted value of all coins is $8.55B.

How is USDS different from DAI?

Both are issued by the Sky protocol (formerly MakerDAO) and can be swapped one-to-one with no fee. The key difference is the contract: DAI’s code is immutable, while the USDS contract can be upgraded. The sUSDS savings token and newer Sky features are built around USDS.

What backs USDS?

According to Sky, the protocol’s total collateral is worth more than the USDS in circulation. USDS is minted either against vault collateral worth more than the loan or one-to-one for USDC through the Peg Stability Module. The backing includes crypto assets, US Treasury bills and other stablecoins, and Sky governance decides how the mix changes.

How do I check a USDS address for AML risk?

Open @AMLmexmBot, pick the network (Ethereum (ERC-20)) and send a wallet address or a transaction hash. The bot shows the risk score in percent and where the funds came from. Your first check is free.

Prices and analytics are for information only and are not investment advice. Market data source: CoinGecko.