Sky Agents are operating like an onchain credit network. The part I find most interesting is how @SkyMoney distributes its balance sheet across specialized agents @grovedotfinance has drawn around $2.75B, @sparkfinance ~$2.74B, and @obexincubator ~$403M. Each agent has its own mandate, deploying USDS across markets like DeFi lending, tokenized Treasuries, RWA, and private credit. Governance sets the debt ceilings, base rates, and risk limits. The core protocol provides the balance sheet. The structure starts to look a lot like a financial institution with multiple specialized credit desks, except most of the rules, exposures, and capital flows are visible onchain. USDS is gradually becoming the funding layer for a distributed credit network. Sky could become a place where onchain capital is originated, allocated, and recycled across multiple credit markets.