Sky provides 150 million USDS in underlying liquidity for FX Layer

Odaily reported that Sky (formerly MakerDAO), in collaboration with Spark and Uniswap, announced that the initial $150 million liquidity for the stablecoin exchange system FX Layer, built by the three parties, originates entirely from USDS, the Sky ecosystem's stablecoin. As the platform's core pricing asset, USDS provides base 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 is to attract institutions involved in stablecoin operations, such as PayPal's PYUSD, Ripple's RLUSD, Robinhood, and Revolut, to connect to this unified infrastructure. This approach eliminates the need for each issuer to independently build liquidity pools and market-making systems. Simultaneously, a governance mechanism will be implemented to allow idle funds not participating in market-making to generate continuous returns.

Looking back on June 25th, Spark and Uniswap officially announced the launch of FX Layer. The division of labor within the architecture is clear: Spark acts as the orchestration layer, allocating liquidity across different stablecoins, while Uniswap v4 executes trading paths through the DualPool hook programmable AMM mechanism, offering a one-stop stablecoin exchange service for banks, fintech companies, and payment enterprises.