#susds

➤ Sky has launched a new fixed-yield product built on Pendle Protocol, offering depositors of its sUSDS stablecoin a locked-in annual percentage yield (APY) of 3.62%. ➤ This product, called Fixed Yield, utilizes Pendle's yield-tokenization infrastructure to split yield-bearing tokens into principal and yield components, allowing users to lock in a rate until a specified maturity date. ➤ The initiative aims to provide rate-sensitive depositors with a stable alternative to the variable Sky Savings Rate (SSR), which has been declining, and leverages Pendle's technology within Sky's own product interface.

➤ The DeFi landscape is shifting from native yield generation to importing yield from traditional finance, with yield-bearing stablecoins (YBS) becoming a foundational element. ➤ Ethena's sUSDe has seen a significant supply drop, not due to failure, but a market rotation towards YBS with more predictable collateral composition and institutional adoption, like Circle's USYC. ➤ The trend indicates a move towards stability and composability over pure APY, with YBS evolving to incorporate diverse TradFi yield sources and becoming infrastructure for new DeFi innovations.