Sky Mavis, the creator of popular blockchain game Axie Infinity, has launched its own stablecoin called USDS on the Solana network. The new digital asset aims to provide a stable medium of exchange pegged to the US dollar.
The USDS stablecoin represents Sky Mavis' latest expansion into decentralized finance (DeFi) infrastructure. By choosing Solana as the deployment platform, Sky leverages the blockchain's high speed and low transaction costs to enhance user experience.
"We selected Solana because it offers the scalability and efficiency needed to support widespread stablecoin adoption," said Sky Mavis CEO Trung Nguyen. "USDS will serve as a bridge between traditional finance and blockchain gaming."
The stablecoin maintains its 1:1 peg to USD through a collateral-backed system. Each USDS token is backed by US dollar reserves held in regulated financial institutions, providing stability and transparency for users.
Sky Mavis plans to integrate USDS across its gaming ecosystem, allowing players to trade assets and make in-game purchases. The company also envisions USDS becoming widely used in the broader Solana DeFi landscape.
The launch marks a major milestone in Sky's mission to build accessible blockchain infrastructure. As the gaming and crypto industries continue merging, USDS aims to facilitate seamless value transfer between virtual and real-world economies.
Players and developers can now access USDS through supported Solana wallets and exchanges. Sky Mavis has outlined plans for additional features and use cases in their development roadmap.
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