SKY and USDS available for trading!
We’re thrilled to announce that SKY and USDS are now available for trading on Kraken!
Funding and trading
Trading for SKY and USDS will be live as of 16:00 PM UTC today, October 2, 2024.
To add an asset to your Kraken account, navigate to Funding, select the asset you’re after, and hit ‘Deposit’.
Make sure to deposit your tokens into networks supported by Kraken. Deposits made using other networks will be lost.
The new tokens are tradeable on Kraken and Kraken Pro with the following parameters:
| Asset | Pair | Price decimal precision | Minimum order size | Minimum deposit |
|---|---|---|---|---|
| SKY | USD, EUR | 5 | 5 | 5 |
| USDS | USD, EUR | 5 | 100 | 100 |
Note:
- Trading via Kraken App and Instant Buy will be available once the liquidity conditions are met (when a sufficient number of buyers and sellers have entered the market for their orders to be efficiently matched).
- SKY is not available in DE.
- USDS is not available in CA, DE, BE, EL, LT, PT, BG, ES, LU, RO, CZ, FR, HU, SI, DK, HR, MT, SK, DE, IT, NL, FI, EE, CY, AT, SE, IE, LV, PL, IS, NO, LI.
Here’s some more information about these assets:
SKY – SKY is the governance token of the Sky Ecosystem, replacing Maker’s MKR token at a rate of 1:24,000. It enables users to participate in decentralized governance, trade for USDS, and accumulate rewards through the Sky Token Rewards module. Holders of SKY can vote on protocol updates and changes, and it will also serve as the mechanism for earning Activation Token Rewards in the future.
USDS – USDS, formerly DAI, is the stablecoin of the decentralized Sky Protocol, designed to maintain a soft peg to the U.S. dollar. It allows users to participate in Sky’s ecosystem, such as earning rewards through the Sky Savings Rate, without giving up control of their funds. USDS is an upgraded version of DAI, backed by surplus collateral, and powers the permissionless, non-custodial Sky Protocol, enabling users to trade, save, and earn rewards.
Ready to trade but don’t have a Kraken account yet? Sign up today!
Will Kraken make more assets available?
Yes! But our policy is to never reveal any details until shortly before launch – including which assets we are considering. All of Kraken’s available tokens can be found here, and all future tokens will be announced on Kraken’s blog and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be making available in the future.
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake, or hold any cryptoasset or to engage in any specific trading strategy. Kraken makes no representation or warranty of any kind, express or implied, as to the accuracy, completeness, timeliness, suitability or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply.
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Author: KrakenFX
