Arbitrum Supports Sky Dollar-linked Stablecoin USDS
Summary
- Arbitrum has announced support for Sky's stablecoin USDS, drawing investor attention.
- This integration allows swapping USDC and USDS to sUSDS on Arbitrum, which is expected to increase liquidity.
- Sky Protocol emphasized that this will enable reduced transaction costs and efficient asset transfers.
DeFi platform Sky Protocol announced on the 5th through its official channel that Arbitrum (ARB) will support Sky's stablecoin USDS.
USDS on the Arbitrum network is powered by Sky Bridge solution SkyLink and Spark liquidity layer, both developed by Spark, Sky's bridge solution liquidity marketplace. This enables users to swap USDC or USDS to sUSDS (staked USDS) on Arbitrum.
Users can view Arbitrum data on Sky's risk and analytics dashboard. Real-time bridge data can also be viewed on the Arbitrum page.
Sky Protocol stated, "Through this integration, we can expect reduced transaction costs and increased liquidity," adding, "Users will be able to more efficiently utilize asset transfer and swap functions between Ethereum and Arbitrum networks."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
