Sky Protocol Grows Institutional Lending with $100M sUSDS Allocation and Token Burns
Sky Protocol's revenue surged 49.7% year-over-year, while Galaxy Digital allocated $100M to sUSDS and token burns began.
Sky Protocol's revenue surged 49.7% year-over-year, while Galaxy Digital allocated $100M to sUSDS and token burns began. Sky (SKY) is trading at R$0,357346 ($0.0709), down 0.6% since this brief published. This is an original Criptano brief synthesising 2 outlets (Crypto Economy, CryptoNewsZ), with their figures cross-checked, plus live market data, as of Sat, 24 Oct 2026 01:00:01 UTC.
This development highlights the growing institutional interest in decentralized finance (DeFi) and the strategic importance of stablecoin collateralization for lending protocols. The token burn mechanism also underscores Sky's commitment to managing token supply and potentially boosting its value.
- Sky's September 2026 revenue rose 49.7% YoY to $30.8M.
- Galaxy Digital allocated $100M to sUSDS for lending operations.
- Sky protocol burned 2.86M tokens under Stage 2 framework.
- Galaxy TVL increased 5.5% to $131.45M in the past week.
Crypto Economy and CryptoNewsZ both report that Sky Protocol's revenue grew by 49.7% year-over-year to $30.8 million in September 2026. They also agree that Galaxy Digital allocated $100 million to the sUSDS asset and that the Sky protocol completed its first token burn under the Stage 2 framework, removing 2.86 million SKY tokens. However, CryptoNewsZ emphasizes a Boston Consulting Group report commissioned by Ripple, which states that over 30% of digital assets are held outside centralized platforms, a detail not mentioned by Crypto Economy.
Sky Protocol reported a significant increase in gross revenue for September 2026, reaching $30.8 million, a 49.7% year-over-year increase. This growth underscores the platform's expanding influence in the decentralized finance (DeFi) sector.
Galaxy Digital, a major player in the crypto space, allocated $100 million of its treasury to the sUSDS asset, using it as collateral for lending operations. This move is expected to bolster liquidity and stability in the DeFi ecosystem.
The Sky protocol also initiated its first token burn under the Stage 2 framework, permanently removing 2.86 million SKY tokens from circulation. This mechanism is designed to manage the token supply and potentially increase its value over time.
According to DeFiLlama, Galaxy's total value locked (TVL) increased by 5.5% over the past week, reaching $131.45 million. This growth indicates a positive trend in institutional and retail participation in the platform.
In the broader market context, the total crypto market cap stands at $2.78 trillion, with 
Bitcoin experiencing a slight 24-hour decline of 0.22%. The Fear & Greed Index remains at 51, indicating a neutral market sentiment. Sky's native token, SKY, is currently priced at $0.071277, with a 24-hour decrease of 1.69% and a 7-day increase of 0.71%, maintaining a market cap of $1.67 billion.
Since this brief published about 57 minutes ago, Sky (SKY) has moved from R$0,359439$0.0713 to R$0,357346$0.0709 — -0.58%.
The chart plots SKY's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Criptano's market data (daily resolution; intraday detail builds over the first day). It shows what happened after the news, not that the news caused it; many factors move prices. Não é recomendação.
At today's peer-to-peer rate, 1 SKY ≈ R$0.354239 (about $0.0709), down 2.2% over 24 hours. The real itself trades about 0.9% below the official rate on the P2P market, so a Brazilian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 2 outlets reporting this story.
Criptano extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Figures and sectors in this story, checked live against on-chain aggregators · 24 de outubro de 2026.
Criptano reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Sky Protocol Grows Institutional Lending with $100M sUSDS Al — questions & answers
O que é o sUSDS e por que é importante para o Sky Protocol?
O sUSDS é um ativo estável usado como garantia para operações de empréstimo no Sky Protocol. A alocação de $100 milhões por parte da Galaxy Digital destaca sua confiança no ativo e no potencial de crescimento do protocolo.
Como o mecanismo de queima de tokens afeta o Sky Protocol?
A queima de tokens reduz a oferta circulante, o que pode aumentar o valor do token SKY ao longo do tempo, beneficiando os investidores e participantes do protocolo.
Qual é o impacto da alocação de $100 milhões da Galaxy Digital no mercado DeFi?
A alocação de $100 milhões da Galaxy Digital para o sUSDS pode aumentar a liquidez e a estabilidade no mercado DeFi, atraindo mais investidores e participantes para o Sky Protocol.
How much is 1 Sky worth in real today?
About R$0.354239 at the live peer-to-peer (P2P) USDT rate, which is what Brazilians typically trade at — equivalent to roughly $0.0709. The real price moves with both SKY's US-dollar price and the USDT/BRL rate; use our Sky in real page for any amount.
Has Sky's price moved since this brief was published?
SKY is down 0.58% since this brief first published — trading at R$0,357346 ($0.0709) now versus R$0,359439 ($0.0713) at publication. Criptano re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Criptano brief that synthesises reporting from Crypto Economy, CryptoNewsZ, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Criptano brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.