The liquidity migration makes USDS the initial unit of account and base liquidity for USDS/USDT and USDS/PYUSD pools in the stablecoin infrastructure announced with Spark and Uniswap on June 25.
About $150 million of liquidity that migrated into the FX Layer stablecoin project came from Sky’s USDS ecosystem, Sky, formerly MakerDAO, said alongside Spark and Uniswap. The groups said USDS will act as the initial unit of account and provide base liquidity for the project’s USDS/USDT and USDS/PYUSD pools. FX Layer was announced by Spark and Uniswap on June 25 as shared stablecoin liquidity infrastructure, a setup intended to concentrate liquidity across stablecoin pairs to support trading and capital efficiency.