What is sUSDS? How Do I Acquire sUSDS?

This guide will walk you through Sky Savings’ sUSDS and sUSDC—your gateway to earning yield with stablecoins while keeping your funds secure.

Sky Savings: Your Journey to Stablecoin Yields Begins Here

What is Sky Savings?

Sky Savings is a protocol designed to help users earn yield by depositing stablecoins like USDS and USDC. It leverages a mechanism called the Sky Savings Rate (SSR) to deploy these stablecoins into yield-generating strategies. To simplify the user experience, Sky Savings offers tokenized versions of deposits: sUSDS and sUSDC.

sUSDS & sUSDC: Tokenized Yield-Bearing Assets

sUSDS represents a tokenized version of USDS earning interest through the Sky Savings Rate (SSR). Similarly, sUSDC represents USDC deposited into the savings vault. In short, when you deposit USDS or USDC into Sky Savings, you receive sUSDS or sUSDC in return. These tokens represent your share in the vault, and their value increases as SSR generates yield. The best part? You can use them just like any other token—transfer, stake, lend, or borrow as you wish.

Why Choose sUSDS and sUSDC?

• Higher Yields: SSR helps sUSDS and sUSDC earn more than simply holding USDS or USDC.
• Liquidity: You can redeem sUSDS and sUSDC for USDS or USDC anytime—no lock-ups.
• Flexibility: As ERC-20 tokens, they’re compatible with various DeFi applications.
• Multi-Chain Support: sUSDC is available on Ethereum, Base, and Arbitrum for cross-chain use.

Step-by-Step Guide: How to Get sUSDS and sUSDC

Requirements

• An Ethereum wallet (e.g., MetaMask)
• Sufficient ETH or native gas tokens for transaction fees
• USDS or USDC stablecoins

Step 1: Visit the Spark App

Go to: app.spark.fi/savings

Step 2: Connect Your Wallet

1. Click “Connect Wallet” in the top-right corner.
2. Select your wallet provider (e.g., MetaMask).
3. Follow the wallet prompts to complete the connection.

Step 3: Choose Your Stablecoin

1. On the Savings page, choose either USDS or USDC.
2. Select the stablecoin you’d like to deposit.

Step 4: Enter Deposit Amount

1. Enter the amount in the appropriate field.
2. Click “Deposit”.

Step 5: Confirm the Transaction

1. Your wallet will prompt you to confirm.
2. Double-check the amount and gas fee.
3. Approve the transaction and wait for on-chain confirmation.

Step 6: Check Your sUSDS or sUSDC Balance

After confirmation, your wallet will reflect your new balance of sUSDS or sUSDC. You can also monitor your deposits and earnings on the Savings dashboard.

Pro Tip: Gas fees fluctuate with network congestion. Try transacting during off-peak hours to save costs.

Getting sUSDS and sUSDC on Different Networks

Choose the Right Network

The Spark App supports Ethereum, Base, and Arbitrum. Consider the following:

• Gas Fees: Base and Arbitrum typically offer lower fees than Ethereum.
• Transaction Speed: Base and Arbitrum are faster than Ethereum.
• Ecosystem: Choose the chain where your preferred DeFi apps operate.

Switching Networks

In Spark App, use your wallet’s network selector to switch. For example, in MetaMask, click the network name at the top and choose the desired one.

Deposit Process

Once on the desired network, follow the same deposit steps.

How to Withdraw Your sUSDS or sUSDC

Step 1: Visit Spark App

Go to: app.spark.fi/savings

Step 2: Connect Your Wallet

Make sure you’re connected to the same network where your sUSDS or sUSDC is held.

Step 3: Choose the Stablecoin to Withdraw

1. Check your sUSDS and sUSDC balances on the Savings page.
2. Select the one you wish to withdraw.

Step 4: Enter Withdrawal Amount

1. Input the amount.
2. Click “Withdraw”.

Step 5: Confirm the Transaction

1. Confirm via wallet prompt.
2. Review gas fees and amount.
3. Submit and wait for confirmation.

Step 6: Check Your USDS or USDC Balance

Once confirmed, your USDS or USDC will show up in your wallet, and your sUSDS/sUSDC balance will decrease accordingly.

Note: Thanks to the Savings Liquidity Layer (SLL), withdrawals are usually smooth. However, extreme cases may result in temporary liquidity shortages.

Risks & Security Measures

Smart Contract Risks

• Vulnerabilities in Sky Savings or its contracts could result in fund loss.
• Mitigation: Always check for audit reports and only use trusted protocols.

Protocol Risks

• SSR mechanisms may underperform or cause losses.
• Mitigation: Understand how SSR works and assess your risk tolerance.

Market Risks

• Stablecoins like USDS or USDC may de-peg.
• Mitigation: Diversify your assets. Don’t put everything in one place.

Private Key Security

• Never share your private key.
• Mitigation: Use hardware wallets and regularly back up your keys.

Common Mistake: Entering your private key on a malicious site—don’t do this!

Advanced Use Cases for sUSDS and sUSDC

Liquidity Mining

Use sUSDS or sUSDC in DeFi liquidity pools to earn extra rewards.

Borrowing

Use your sUSDS or sUSDC as collateral to borrow other assets.

Cross-Chain Bridges

Move sUSDC across networks via supported bridges.

Pro Tip: Always research before participating in DeFi. Understand the risks involved.

Fee Overview

Reminder: Gas fees vary with network conditions. Adjust your gas price accordingly.

Security Checklist

• Use a secure wallet
• Protect your private key
• Double-check transaction details
• Understand all risks
• Keep wallet software updated

Troubleshooting Guide

Conclusion

sUSDS and sUSDC offer stablecoin users a secure and convenient way to earn passive income. With this guide, you now know how to acquire, use, and manage sUSDS and sUSDC. Always do your own research before participating in DeFi, and stay safe.