Sky confirms that it provides USDS liquidity for FX Layer’s stablecoin exchange system for Spark and Uniswap.

BlockBeats news, June 29, Sky (formerly MakerDAO) together with Spark and Uniswap stated in a post that the approximately $150 million liquidity migrated in the previously launched stablecoin FX Layer project comes from Sky’s USDS ecosystem. USDS, as the initial pricing asset within the network, provides base liquidity for the USDS/USDT and USDS/PYUSD pools. The three parties said this is the first large-scale implementation of this liquidity framework, with a long-term vision to allow more issuers (such as PayPal’s continuously expanding PYUSD, Ripple’s RLUSD, and institutions like Robinhood and Revolut that are exploring stablecoin businesses) to access this shared infrastructure instead of building independent liquidity networks, while also exploring ways for idle funds to generate returns under the governance framework when not participating in market making.

Previously on June 25, Spark and Uniswap announced the joint launch of the stablecoin exchange system FX Layer, aimed at providing shared liquidity infrastructure for multiple stablecoin issuers including banks, fintech companies, and payment firms, avoiding redundant construction of liquidity pools, market makers, and inventory management. Spark acts as the orchestration layer to determine how liquidity is allocated and coordinated among different stablecoins, while Uniswap v4 provides a programmable AMM architecture (based on the DualPool hook under the hooks mechanism) to execute specific trading paths.