Sky

Sky is a DeFi pioneer. Cofounded by Danish entrepreneur Rune Christensen as MakerDAO in 2014, Sky issues USDS, which is the third-largest stablecoin behind Circle and Tether's tokens. Unlike centralized stablecoin companies, a decentralized group of actors decide what assets back USDS and how the stablecoin is put to use. Sky collects income totaling in the eight figures annually from interest, and USDS's total market cap has nearly doubled from $5.6 billion to around $11 billion as of June 2026 since launching in September 2024.