{"id":41552,"date":"2025-08-11T16:02:08","date_gmt":"2025-08-11T16:02:08","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=41552"},"modified":"2025-08-11T16:02:08","modified_gmt":"2025-08-11T16:02:08","slug":"sp-assigns-first-ever-credit-rating-to-a-defi-protocol-rates-sky-at-b","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=41552","title":{"rendered":"S&amp;P Assigns First-Ever Credit Rating to a DeFi Protocol, Rates Sky at B-"},"content":{"rendered":"<div>\n<p>S&amp;P Global Ratings assigned a B- (stable outlook) issuer credit rating to Sky Protocol, the decentralized lending platform <a href=\"https:\/\/www.coindesk.com\/business\/2024\/08\/27\/makerdao-is-now-sky-as-7b-crypto-lender-rolls-out-new-stablecoin-governance-token\">formerly known as Maker Protocol<\/a>, in a first for the decentralized finance (DeFi) industry.<\/p>\n<p>The Ethereum-based protocol issues <a href=\"https:\/\/www.coindesk.com\/price\/usds\">the USDS stablecoin<\/a>, created when borrowers post approved collateral. With a $7.1 billion market cap, USDS trails only USDT and USDC in size. Sky also offers savings vaults, enabling holders to earn yield via savings USDS (sUSDS).<\/p>\n<p>Jonathan Manley, S&amp;P\u2019s global head of market outreach, called the rating a \u201csignificant milestone\u201d that will help bring greater transparency to DeFi.<\/p>\n<p>The move comes as S&amp;P expands its coverage into blockchain-based finance, recently rating tokenized treasury funds and blockchain mortgage securitizations. Sky is itself an investor in Janus Henderson\u2019s tokenized treasury products.<\/p>\n<p>S&amp;P\u2019s separate Stablecoin Stability Assessment rates USDS\u2019s peg-maintenance ability at 4 (constrained) on a five-point scale.<\/p>\n<p>The rating underscores growing overlap between traditional credit analysis and the evolving DeFi market.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>S&amp;P Global Ratings assigned a B- (stable outlook) issuer credit rating to Sky Protocol, the decentralized lending platform formerly known as Maker Protocol, in a first for the decentralized finance (DeFi) industry. The Ethereum-based protocol issues the USDS stablecoin, created when borrowers post approved collateral. With a $7.1 billion market cap, USDS trails only USDT [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-41552","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41552"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41552\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}