No single dated event in the next 90 days.
Stakers get treasury SKY. Buybacks refill most of it.
SKY is the staking and voting token of Sky, the maker of the USDS stablecoin: 23.42B count as circulating, and no new SKY was minted.
Sell pressure. Stakers were paid 196.7M SKY in 90 days from the protocol treasury, which sits outside the float. Nothing vests, and MKR upgrades use coins already counted.
Buy pressure. Buybacks moved 87.4M SKY back into that treasury; the Sep 13 2026 burn used coins already bought back.
Net. Net, supply grew about 0.47%; buybacks nearly match the pay now, so next is about 0.14%.
No new SKY was minted. Stakers are paid in SKY taken out of the protocol treasury, which sits outside the counted float, so every payout adds to it. Weekly payouts came to 196.7M SKY in 90 days. The pay rate is reset each month from the protocol's revenue: it was cut on Aug 17 2026 and again on Sep 13 2026, and the current stream pays 143.2M SKY over 90 days (about 1.59M a day).
No team or investor vesting is left. The only minting stream (rewards for USDS holders) ended on Jun 2 2025, and the coin's total supply did not rise at all in these 90 days.
The protocol treasury holds about 38.5M SKY. It fills from buybacks and empties into staker pay, and both flows are counted in this ledger. The Sky Frontier Foundation went from 0.9M to 37.7M SKY in 90 days, but every coin came from wallets already in the float, and it staked 27.2M of them. The upgrade contract keeps a 38.2M SKY pool of penalties from late upgrades, also already counted as circulating. None of these released new SKY to the market.
No estate, trustee or long lock pays out SKY. Staking has no fixed lock, and staked SKY is already counted as circulating.
Old MKR holders can still swap 1 MKR for 24,000 SKY, minus a late-upgrade penalty that rose from 4% to 5% on Sep 13 2026. 6,019 MKR were upgraded in 90 days and received 138.4M SKY. That SKY was minted long ago and sits in the upgrade contract, which is already counted as circulating, so it adds nothing new. About 2.06B SKY still waits there for the last 84,141 MKR.
Part of the protocol's monthly profit buys SKY on the open market in small trades every 42 minutes, and the coins go to the protocol treasury. 1,495 trades spent 5.67M USDS for 87.4M SKY in 90 days. Since Sep 13 2026 the pace is about 108,600 USDS a day; at today's price that buys about 111.0M SKY in the next 90 days. Most of it is later paid back to stakers, which is the payout above.
On Sep 13 2026 the protocol burned 2.86M SKY, the share of August buybacks set aside for burning. Those coins had already left the market when they were bought back, so the burn removes nothing new. The next burn, from September buybacks, is due in the Oct 8 2026 vote.
No foundation or team wallet bought SKY outside the protocol buyback above. Outside companies that buy SKY on the market do not take it out of the float.
Staked SKY grew by about 166M to 10.31B in 90 days. Staking is open-ended and staked SKY still counts as circulating, so it takes nothing off the market.
Two sides: how much people want SKY right now, and how much buying could come later.
This part is based on social media. It shows how hot SKY is right now. A better rank means more people are talking about it.
Today, people are talking about SKY for two reasons:
On Oct 7 2026 Moody's assigned Sky Protocol a B3 rating with a stable outlook, the first time it has rated any stablecoin protocol. Sky is now rated by both Moody's and S&P, and both say a bigger capital buffer would be needed for a higher grade; Sky's long-term goal is investment grade. People ask how fast Sky can build that buffer, and what a better grade could mean for big buyers of USDS.
SKY rose to about $0.098 on Oct 5 2026, then fell to about $0.077 by Oct 10, a drop of roughly 22% in five days. One day alone, Oct 8, took about 12% off as large holders sold and the wider market turned down. People ask whether the Moody's news and Sky's buybacks can stop the slide.
Checked Oct 10 2026
Supply and demand point to a mixed long-run signal for Sky (Oct 11 2026, score 6.5/10). Sky adds +0.14% new supply in 90 days, and demand reads moderate (3/5). Sky's price drivers: 2 ▲ price up, 0 ▼ price down.
Both of Sky's price drivers point up on Oct 10 2026. Its USDS dollar is growing again after falling from the March 2026 peak, and one listed company holds about 10% of all SKY and keeps adding. New supply is small too, +0.14% in 90 days. For Sky, the supply-and-demand signal is mixed right now.
Sky trades near 8.8 cents (Oct 11 2026). $1 a coin means a $23.4B market cap, 11 times today's $2.06B. Sky's supply also grows +0.56% in the next year, so every extra coin needs buyers too. By supply and demand, Sky's long-run signal is mixed today.
We would read Sky differently if new supply jumps (today +0.14% in 90 days), or demand falls from moderate. Until then Sky's signal stays mixed.
Sky scores 6.5/10 on our framework (Oct 11 2026): supply 3.5/5 (steady), demand 3/5. Over the next year Sky's supply changes +0.56%. The long-run signal is mixed.
Supply and demand favor Sky most when little new supply is coming, demand is strong and the price drivers point up. Right now Sky has +0.14% new supply in 90 days (steady), demand moderate (3/5), drivers 2 ▲ / 0 ▼.
Sky's price drivers today: 2 pointing up, 0 pointing down, out of 2. ▲ Sky's dollars: USDS is growing again after falling from its March 2026 peak. ▲ SDEV's SKY pile: One listed company holds about 10% of all SKY and keeps adding.
Sky: mixed signal, 6.5/10 · Bitcoin: positive signal, 8.5/10 (Oct 11 2026). By supply and demand, Sky reads weaker than Bitcoin today.
Every answer here applies basic economic theory — the law of supply and demand — to this coin's data. It is not financial advice. How we read every coin →
We look at two things, half each: supply and demand. Fewer new coins mean less selling pressure. A meme coin scores 1.5 at most on supply: its team got its coins for free, so no new supply does not make it safe. We also show each coin's age, with a warning when it is younger than 1 year. Demand looks at how much people want the coin now and how much buying could come later. Price Drivers (Beta) are the 2 or 3 things that can move one coin's price that supply and demand miss; they have no score. SKY supply grows +0.14% in the next 90 days, so it shows in red: more SKY reaches the market than is removed. Zero or falling supply is always green, any growth is red.
One email before each big supply event, and the day our verdict changes. Nothing else. You can watch 2 coins for free.
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