Collateral locked (at market price) and debt outstanding in Sky's vaults and Lockstake
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Collateral locked across Sky's vaults and Lockstake, at market price, latest day
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DAI and USDS owed by vault and Lockstake borrowers, latest day
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Collateral locked, at market price, by product, market and collateral asset
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Debt outstanding by product, market and collateral asset
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Collateral value (at market price) as a multiple of debt
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Borrow rate on each market, weighted by debt, against the savings rate
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Every market holding debt or collateral: balances, current debt ceiling, collateralization, stability fee and fees accrued
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Stability fees accrued daily by product, market and collateral, gross (Lockstake before the stUSDS share); the Basis toggles show the gross total and the Sky / stUSDS split
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New borrowing less repayments, by product, market and collateral
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Collateral locked less collateral withdrawn, by product, market and collateral
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Borrowing and repayments as bars with net flow as a line, for all products or one at a time
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Sky's oldest product is the vault, the collateralized debt position Maker launched as Multi-Collateral Dai in 2019. A borrower locks collateral in a vault and mints DAI against it, up to the market's minimum collateral ratio. The debt grows at the market's stability fee, which Sky sets per market and which accrues daily as revenue, and a vault that falls below its minimum ratio is liquidated (see the Liquidations tab). Each market has a debt ceiling that caps how much it can mint; for some markets governance sets a higher maximum, within which the current ceiling adjusts automatically.
Lockstake lets SKY holders borrow USDS against staked SKY, so the collateral keeps its staking rewards and voting power. Since October 2025 the USDS it lends comes from stUSDS depositors, who earn the borrowers' interest after Sky's share (see the Savings tab). Lockstake collateral is shown at market price; Lockstake liquidations use a fixed $0.025 SKY oracle price, and at that price Lockstake collateralization is ~2.7x.
LP vaults, which took Uniswap and G-UNI liquidity tokens, and the first Lockstake market, which took MKR, are wound down. RWA vaults and Prime credit lines are on the Wholesale Credit tab. Ethereum only.
