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- 🎉 The #CandyDrop Futures Challenge is live — join now to share a 6 BTC prize pool!
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Dare to trade. Dare to win.
- 🎉 Gate Square Growth Points Summer Lucky Draw Round 1️⃣ 2️⃣ Is Live!
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Event ends: August 9, 16:00 UTC
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Data: Sky Q1 loss of 5 million USD, due to a rise in USDS interest expenses of 102%.
According to ChainCatcher news and a report by Coindesk, Sky (formerly MakerDAO) lost 5 million dollars in the first quarter of this year due to the doubling of Interest paid to Token holders. This loss stands in stark contrast to the previous quarter, when Sky posted a profit of $31 million. The main reason for the 102% increase in interest expenses is that Sky decided to encourage users to adopt its newly launched stablecoin Sky Dollar (USDS) through higher incentives, replacing the existing DAI.