TL;DR: USDS is now available for swaps on BitcoinVN via Ethereum (ERC-20). Swap supported cryptocurrencies into USDS – or exchange your USDS for another supported asset instantly with no sign-up required.
For anyone familiar with DAI, USDS has a recognisable history. It is the upgraded stablecoin introduced by Sky, the ecosystem previously known as MakerDAO. Like DAI, USDS is designed to maintain a value close to one US dollar.
USDS gives users a dollar-denominated asset they can hold, transfer and use across applications that support it. It also serves as the core stablecoin of the Sky ecosystem, including its lending and savings infrastructure. For existing USDS holders, BitcoinVN adds another way to move into other cryptocurrencies; for users exploring Sky, it provides a route to acquire USDS from assets they already hold.
USDS is backed by a diversified pool of collateral, including other stablecoins, crypto lending positions and real-world assets such as exposure to US Treasury bills. The backing and its composition can be explored through Sky’s public financial dashboard. Its dollar peg is a design target, and users remain exposed to the underlying collateral and protocol risks.
DAI vs USDS: Censorship Resistance vs Regulatory Compliance
DAI gives users who prioritise censorship resistance a concrete reason to keep holding it: its Ethereum token contract has no address blacklist or issuer-operated freeze function, and it is not upgradeable. Governance cannot simply rewrite that existing contract to introduce restrictions on individual holders’ transfers. Alongside familiarity and established integrations, this can help explain DAI’s continued appeal even as Sky promotes USDS.
USDS introduces a different design: its Ethereum token contract is upgradeable, allowing governance to change its functionality. Sky’s whitepaper explicitly discusses adding a freeze function in the future, while describing it as not yet implemented. The stated rationale is to accommodate legal frameworks associated with enforcing claims on real-world collateral as the system grows. The distinction is therefore the ability to introduce freezing through a future upgrade – not an assumption that USDS already has an active freeze function on Ethereum.
DAI’s protection nevertheless has limits. DAI and USDS share the same underlying issuance system, so retaining DAI does not remove exposure to the protocol’s collateral, governance or reliance on external institutions. Restrictions affecting assets backing the system could still affect DAI’s value, even if an individual holder’s DAI cannot be directly frozen through the token contract. For users who value predictable transfer rules, that narrower protection can still be a meaningful reason to prefer DAI.
Earn stablecoin yield – DAI vs USDS
One distinction is useful to understand before getting started: USDS and sUSDS are different tokens.
Simply holding USDS in a wallet does not earn the Sky Savings Rate. Users who supply USDS to Sky’s savings module receive sUSDS, which represents their savings position and accrues value at a variable, governance-set rate – currently 3.80% APY. Swapping into USDS on BitcoinVN gives you the stablecoin; accessing Sky’s savings product is a separate step.
BitcoinVN’s liquidity pools offer another way to earn stablecoin yield, currently displaying significantly higher estimated annualised returns. Participants supply liquidity for exchange operations and receive a share of completed exchange volume. Funds in these pools are managed by BitcoinVN.
At the time of writing on 13 November 2026, the DAI liquidity pool displays an estimated 8.93% APR.
Meanwhile, USDS swap liquidity is supported by BitcoinVN’s unified USD stablecoin liquidity pool, which currently displays an estimated 22.5% APR.
Keep in mind that supplied liquidity – particularly in the unified USD stablecoin pool – remains small. With approximately $1,063 currently deposited in that pool, larger liquidity deposits could quickly lower the APR available to participants unless exchange volume increases alongside them. These APRs are variable estimates based on recent exchange activity, rather than fixed returns.
Swapping USDS
BitcoinVN currently supports USDS on Ethereum (ERC-20) for both incoming and outgoing swaps. One available route, for example, lets you send USDT on Solana and receive USDS in your Ethereum wallet. Make sure the network selected for each side of your order matches the network you intend to use.
To make a swap:
- Visit BitcoinVN.io and select the asset you want to send and the asset you want to receive.
- Enter the amount and your receiving wallet address, then review the quote.
- Create the order and follow its payment instructions. Once your payment is confirmed, BitcoinVN exchanges the funds and sends them to your chosen destination.
Securing USDS
Now that you’ve got your USDS, the next question – especially in the current environment – should be – how do I secure them and keep them safe from cyber attackers?
A hardware wallet keeps your private keys isolated from your everyday computer or phone and lets you review and approve transactions on a dedicated device. It is a practical way to reduce exposure to malware while keeping control of your funds in your own hands.
USDS on Ethereum can be secured with the full range of Trezor devices – including the flagship Trezor Safe 7 – or the Keystone 3 Pro. Both brands are available through BitcoinVN Shop. Trezor users can manage their USDS through Trezor Suite, while Keystone users can use MetaMask and approve transactions through the device’s QR-based signing process. With either option, you can receive USDS from a BitcoinVN swap directly into an Ethereum address secured by your hardware wallet.
Be aware that a single-signature setup still poses a single point of failure – and while keeping your keys offline with a dedicated hardware device helps thwart many common cyberattacks on end users, we do not recommend a single-signature setup for a significant portion of your life savings.
Our colleagues at BitcoinVN Shop supply genuine, factory-sealed hardware wallets sourced directly from manufacturers, with nationwide delivery and local product and warranty support. Prefer to keep your purchase private? Arrange an in-person pickup in Saigon or at the ₿itCoffee showroom in Da Nang without providing a home delivery address.
Integrate with the BitcoinVN Swap API
Building a wallet, swap aggregator or payment application? Bring USDS swaps directly into your product through the BitcoinVN API, alongside Bitcoin, Lightning, Monero, native shielded Zcash and a wide range of other assets.
We handle liquidity, exchange execution and settlement to your users’ wallets, while your team focuses on the user experience. Integration partners can also earn referral fees from eligible swaps. Visit our integration page for API documentation and to get in touch with our team about connecting your service.
