Galaxy Adds $100 Million in sUSDS to Corporate Treasury and Acquires SKY Galaxy Digital has purchased $100 million of Sky Protocol’s yield-bearing stablecoin sUSDS using its own balance sheet and approved it as collateral across its institutional trading business, which has a $1.4 billion average loan book and serves more than 1,600 counterparties. Clients can continue earning the Sky Savings Rate on their full sUSDS positions while using them as loan collateral. Galaxy also acquired an undisclosed amount of SKY, while the two firms are discussing an expansion of their existing $500 million warehouse facility.

Galaxy bought $100M of sUSDS and approved it as collateral across our institutional lending book. It's the latest step in a deepening relationship with @SkyEcosystem — from Grove's $500M warehouse facility to Spark-backed financing for GOFR.

Grove Basin JTRSY now holds $50M in stablecoin liquidity. Larger redemptions can now clear in a single transaction. Available to JTRSY holders on @centrifuge. Basin is filling. Tap in.

Galaxy deposits $100M of @SkyEcosystem's sUSDS into treasury and approves it as loan collateral, allowing clients to earn Sky's 3.6% savings rate while pledging assets to the $1.4B lending platform. Read more here:

Sky Ecosystem and @galaxyhq are expanding institutional use of sUSDS. Galaxy now holds $100M in sUSDS and has made it eligible collateral across its institutional business, serving 1,600+ counterparties with a $1.4B average loan book. What this opens ↓

Excited to deepen @galaxyhq's relationship with Sky Protocol. A few things this partnership unlocks for our clients: - Expanded warehouse credit from Sky, giving our institutional platform more room to grow. - New tri-party borrowing structure tied to Galaxy's Onchain Financing Rate with exposure to more diversified funding and efficient financing for our clients. - Continued build-out of the onchain financing infrastructure our 1,600+ trading counterparties rely on. @SkyEcosystem has been a trusted partner as we've scaled our onchain lending business. Glad to be building the next chapter of that relationship together.

Publicly listed companies putting yield-generating stablecoins on their balance sheet Love to see it and I expect this to be an incoming trend too As more companies hold/use stablecoins, it only makes sense that they put some % of that into a version that generates yield The friction to do so is much lower than in tradfi Stablecoins are about to eat the world

The first SKY burn is complete. 2.86M SKY, purchased on the open market using 5% of monthly Net Protocol Surplus, has been permanently removed from circulation. The link between protocol performance and reductions in SKY supply is now active.

Oracle infrastructure is part of a protocol’s security architecture. @RuneKek sat down with Chronicle founder @nomos_paradox on Unwrapped to discuss why the data DeFi protocols rely on matters to their resilience. Watch the conversation ↓

Sky Protocol is nearing its first SKY burn under the Stage 2 framework. Each month, 5% of Net Protocol Surplus is used to purchase SKY on the open market. Those tokens are permanently burned and removed from circulation. Hear @RuneKek explain why the first burn marks a major moment for SKY ↓

Earlier today, Geoff Kendrick, Global Head of Digital Asset Research at @StanChart, published his first research report on @SkyEcosystem. IMHO very cool to see another G-SIB who is paying significant attention to this space! The report describes the specialization of Sky’s agent model: capital provided at a wholesale rate to allocators operating across distinct markets and strategies, within defined parameters. From a capital markets perspective, this creates a modular structure for capital allocation. Individual agents can specialize by asset class, market or strategy, while the broader system retains a common source of capital and framework for risk (the Sky Atlas). As the balance sheet grows, expanding the investable universe doesn’t necessarily require centralizing the investment function; it can instead mean adding specialized sources of origination, execution and risk-taking around a common capital base. Additional reporting:

The first SKY burn is approaching. Under Stage 2, 5% of each month’s Net Protocol Surplus is allocated to buying SKY on the open market and permanently removing it from circulation. Once executed, it will establish a recurring link between protocol performance and reductions in SKY supply.

Oracles are the Achilles’ heel of DeFi. @RuneKek @SkyEcosystem and @nomos_paradox @ChronicleLabs discuss on the latest Unwrapped why oracle infrastructure is a critical part of a protocol’s security.

RLUSD is now part of the Stablecoin FX Layer built by Sky Prime Agent Spark. RLUSD/USDS processed more than $600M in its first week, extending a shared-liquidity network that has now surpassed $10B in cumulative volume. More from Spark ↓

At Q2 close, Sky Agents had ~$2.58B deployed across six major institutional counterparties, including $1.24B with Janus Henderson and $713M with BlackRock. @gregfeibus, Global Head of Capital Markets at Sky Frontier Foundation, breaks it down ↓

In May, SFF launched a Financial Dashboard tracking every active allocation by Prime Agents. These include Janus Henderson, BlackRock, Anchorage, PayPal, and others within a $5.8B portfolio. This lets allocators track every position and concentration between quarterly reports.