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Encyclopedia Stablecoins · Entry 144

What is sUSDS? Shares in a USDS savings arrangement

AI-assisted research · separate automated verificationCorrections

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Stablecoins
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3 cited records
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About 3 minutes
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In this article

At a glance

Key facts

Key facts for What is sUSDS? Shares in a USDS savings arrangement
FactDetailSource
StandardSky documents an ERC-4626-compatible deposit and withdrawal interface.[1]
AccountingThe implementation uses an accumulator and a savings-rate parameter.[2]
UpgradeabilityThe cited design uses a UUPS upgrade pattern.[1]
01

Read shares and underlying USDS separately

A deposit exchanges underlying USDS for shares according to the vault’s accounting and rounding. Later, a share can represent a different amount of USDS as the rate accumulator changes.

The share count in a wallet need not increase for the underlying claim to accrue. This differs from a token that directly rebases the displayed balance.

02

A current parameter is not a lifetime promise

The cited implementation exposes authorized parameter-setting logic and rate accumulation. A rate displayed today should be dated and matched to the deployed version.

A worked conversion is useful for understanding the mechanism, but this article intentionally does not quote a current annual return without a fresh verified parameter observation.

03

Include the underlying asset and upgrade path

The savings position depends on USDS and on the savings contract’s rules. The documented upgradeability means readers should inspect the actual authority and current implementation.

A share conversion function does not by itself establish secondary-market liquidity or remove the need to inspect withdrawal conditions and the underlying system’s risks.

Direct answers

Questions people ask

Is sUSDS the same token as USDS?

No. USDS is the underlying asset in this savings interface; sUSDS represents the vault-share position that can be converted under the contract’s rules.

Inspect the evidence

The answer and key facts have stable claim links. These records retain the scope and qualification when reused.

sUSDS is the ERC-4626-compatible savings share for USDS in the Sky system. Its share-to-asset conversion reflects the savings-rate accumulator. It is distinct from plain USDS: the rate, contract authority, backing and available exit paths all matter, and a rising USDS-denominated ratio is not a guaranteed dollar return.

Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T18:15:23.891Z.

Link to this claim
Standard: Sky documents an ERC-4626-compatible deposit and withdrawal interface.

Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T18:15:23.891Z.

Link to this claim
Accounting: The implementation uses an accumulator and a savings-rate parameter.

Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T18:15:23.891Z.

Link to this claim
Upgradeability: The cited design uses a UUPS upgrade pattern.

Scope: Stablecoins · data through 2026-10-02. Verification: verified · 2026-10-02T18:15:23.891Z.

Link to this claim
Revision history
  1. — First publication after primary-source research and independent automated verification.

Source register

Sources and references

Retrieval dates and locators are recorded individually.
  1. Sky Savings RateSky

    Savings-share interface and upgradeable design; parameter values and deployed authority require separate evidence.

    Locator: sUSDS (Savings USDS); Details · Retrieved: 2026-10-02T17:06:51.378ZOpen source
  2. Savings USDS implementationSky contributors

    Savings-rate accumulator, administrator-set rate and share conversions.

    Locator: ssr; file; drip; convertToAssets · Version / scope: susds implementation at dfc7f41cb7599afcb0f0eb1ddaadbf9dd4015dce · Retrieved: 2026-10-02T17:41:56.801ZOpen source
  3. Tokenized VaultsEthereum Improvement Proposals

    Assets, shares, deposits, withdrawals, limits and preview rounding.

    Locator: Specification; Security Considerations · Version / scope: EIP/ERC-4626; retrieved document hash recorded · Retrieved: 2026-10-02T17:03:42.366ZOpen source
How this article was made

Research and drafting use AI assistance. A separate automated review checks claims against primary sources; no external expert or named human review is implied. Publication, substantive editing, source retrieval and verification are recorded separately. This version was independently checked by an automated reviewer on 2 October 2026.

Editorial method and corrections

Degrees of Satoshi editorial project. “What is sUSDS? Shares in a USDS savings arrangement.” Published 2026-10-02; updated 2026-10-02. https://degreesofsatoshi.com/encyclopedia/what-is-susds/