Protocol
Open Finance
Region
Sky
Worldwide
Targeted SDGs
9. Industry, Innovation, Technology and Infrastructure
10. Reduced inequality
Description
Sky is the successor to MakerDAO, the pioneering DeFi protocol that first introduced decentralized stablecoins on Ethereum. It governs and issues USDS, a crypto-backed stablecoin designed to maintain parity with the U.S. dollar without depending on banks or centralized custodians. Sky operates entirely through smart contracts, ensuring that decisions and risk management are handled transparently onchain. Guided by a global community of token holders, it emphasizes decentralization, censorship resistance, and the long-term resilience of open financial systems.
Impact
Sky has given people around the world a way to save and transact in digital dollars even when access to traditional banking or US dollars is restricted. For individuals in countries facing hyperinflation or capital controls, holding USDS means being able to protect wages and savings against local currency collapse.
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Velodrome

Velodrome

Velodrome is an automated market maker (AMM) built on the Superchain. Users can provide liquidity, earn VELO tokens, and participate in governance by locking VELO into veVELO NFTs. This system allows users to vote on which liquidity pools receive rewards, aligning incentives across the platform.

Protocol
Open Finance
9
17
Tether

Tether

Tether is a stablecoin designed to maintain a stable value by pegging its price to the U.S. dollar. Founded in 2014, it has grown into one of the most influential firms in the crypto industry, with reserves and attestations published to support its tokens. Tether plays a central role in global crypto markets by offering liquidity, settlement infrastructure, and a dollar alternative in regions with limited banking access. Beyond stablecoins, the company has expanded into areas such as renewable energy and bitcoin mining, signaling broader ambitions in the digital economy.

Institution
Stablecoins
9
10
Ethereum

Ethereum

Ethereum is a decentralized blockchain platform that facilitates the development of smart contracts and decentralized applications (dApps). Ethereum's robust, neutral, and global infrastructure is the foundation for thousands of dApps and over 70% of stablecoin activity.

Chain
Public Goods
12
16
17
9
CASE STUDIES

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