Sky provides 150 million USDS underlying liquidity for FX Layer

Odaily Planet Daily News Sky (formerly MakerDAO), in collaboration with Spark and Uniswap, announced that the initial $150 million liquidity for the stablecoin exchange system FX Layer, co-developed by the three parties, all comes from the Sky ecosystem's stablecoin USDS. As the platform's core pricing asset, USDS provides underlying liquidity for the USDS/USDT and USDS/PYUSD trading pools, marking the first large-scale implementation of this shared liquidity framework.

The long-term plan for the three parties involves introducing institutions engaged in stablecoin businesses, such as PayPal's PYUSD, Ripple's RLUSD, Robinhood, and Revolut, to connect to a unified infrastructure. This eliminates the need for each issuer to independently build liquidity pools and market-making systems. Additionally, a governance mechanism will be established to allow idle funds not participating in market making to generate continuous returns.

Looking back to June 25th, Spark and Uniswap officially announced the launch of FX Layer. The division of labor is clear: Spark acts as the orchestration layer, allocating cross-stablecoin liquidity, while Uniswap v4 executes the trading path through its DualPool hook programmable AMM mechanism. This provides a one-stop stablecoin exchange service for banks, fintech companies, and payment enterprises.