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LibraryCredit and stable value2024Design paperCorpus record

Sky: the system that succeeded the Dai documents

Sky Protocol. Sky.

Sky publishes the later system around USDS and the Sky savings and governance contracts. It is not the 2017 Dai paper, and it does not inherit that paper's parameters.

A reading of the project's public design document. Not a copy, not a benchmark, and not an offer.

Sky publishes the later system around USDS and the Sky savings and governance contracts. It is not the 2017 Dai paper, and it does not inherit that paper's parameters.
Evidence
Primary paper
Re-measured
No
Assumptions
3
Records linked
2

01 Claim ledger

What the paper is allowed to say

Each row is a sentence already in the study. The status is the same on every row: a model claim, not a live measurement.

  1. Claim 01 · Paper model

    The defect

    Treat a rebrand as a new document. Readers who quote the Dai white paper as if it were today's rule are quoting the wrong text.

  2. Claim 02 · Paper model

    The proposal

    Sky publishes the later system around USDS and the Sky savings and governance contracts. It is not the 2017 Dai paper, and it does not inherit that paper's parameters.

  3. Claim 03 · Paper model

    The mechanism

    USDS, sUSDS, and the governance token are different claims. The docs have to say what each can be redeemed for.

  4. Claim 04 · Paper model

    The bound

    No stability fee, savings rate, or surplus figure is stated here.

02 Three cuts

Observation, model, falsifier

A desk does not stop at the summary. Each claim is cut three ways, using only this study's own assumptions and checks. Nothing here is a new figure.

  1. 01 The defect

    Observation

    What the study says

    Treat a rebrand as a new document. Readers who quote the Dai white paper as if it were today's rule are quoting the wrong text.

    Model

    What has to hold

    You are reading Sky's current docs, not the Dai white paper.

    Falsifier

    What would retire it

    Which token does the page you opened define?

  2. 02 The proposal

    Observation

    What the study says

    Sky publishes the later system around USDS and the Sky savings and governance contracts. It is not the 2017 Dai paper, and it does not inherit that paper's parameters.

    Model

    What has to hold

    You are reading Sky's current docs, not the Dai white paper.

    Falsifier

    What would retire it

    What contract is allowed to mint it?

  3. 03 The mechanism

    Observation

    What the study says

    USDS, sUSDS, and the governance token are different claims. The docs have to say what each can be redeemed for.

    Model

    What has to hold

    No price, supply, yield, or adoption figure is added by this desk.

    Falsifier

    What would retire it

    Which token does the page you opened define?

  4. 04 The bound

    Observation

    What the study says

    No stability fee, savings rate, or surplus figure is stated here.

    Model

    What has to hold

    No price, supply, yield, or adoption figure is added by this desk.

    Falsifier

    What would retire it

    Which token does the page you opened define?

03 Sequence

One action, as an operating tape

  1. 01USDS, sUSDS, and the governance token are different claims. The docs have to say what each can be redeemed for.
  2. 02A savings module that distributes a rate is a policy contract. The rate is not in this note.
  3. 03SubDAOs or stars, if the docs still describe them, are separate collateral and governance domains.

04 Load-bearing

The argument, and where a pitch drops it

  1. What the name has to mean

    The cut

    Sky publishes the later system around USDS and the Sky savings and governance contracts. It is not the 2017 Dai paper, and it does not inherit that paper's parameters.

    Why it carries weight

    If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.

    Where it is dropped

    No stability fee, savings rate, or surplus figure is stated here.

  2. What actually moves

    The cut

    A savings module that distributes a rate is a policy contract. The rate is not in this note.

    Why it carries weight

    If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.

    Where it is dropped

    No stability fee, savings rate, or surplus figure is stated here.

  3. What a later deployment may change

    The cut

    SubDAOs or stars, if the docs still describe them, are separate collateral and governance domains.

    Why it carries weight

    If this cut is skipped, the paper's name is being used without the mechanism that makes the name mean anything.

    Where it is dropped

    The 2017 Dai paper remains a separate study. Do not merge them.

05 Register

What has to be true

  • Model · Not re-measured

    You are reading Sky's current docs, not the Dai white paper.

  • Model · Not re-measured

    The document is the one at the source URL. A marketing page with the same brand is not this text.

  • Model · Not re-measured

    No price, supply, yield, or adoption figure is added by this desk.

06 Divergence

What happened after the paper

A peg in a chart is not a redemption rule.

A later client, parameter set, or reward formula is a different object. Cite this paper for the mechanism. Cite a primary release for the network. This desk has not re-run the proof.

07 Pre-mortem

What to check before you use the idea

  4. 0 of 3 marked on this browser. A mark is a reading note, not a pass, a rating, or a recommendation.

08 Anatomy

The paper, in the order a builder needs

The problem it names

Treat a rebrand as a new document. Readers who quote the Dai white paper as if it were today's rule are quoting the wrong text.

What the design proposes

  • USDS, sUSDS, and the governance token are different claims. The docs have to say what each can be redeemed for.
  • A savings module that distributes a rate is a policy contract. The rate is not in this note.
  • SubDAOs or stars, if the docs still describe them, are separate collateral and governance domains.

How the mechanism is specified

  • USDS, sUSDS, and the governance token are different claims. The docs have to say what each can be redeemed for.
  • A savings module that distributes a rate is a policy contract. The rate is not in this note.
  • SubDAOs or stars, if the docs still describe them, are separate collateral and governance domains.

What this page does not treat as proven

  • No stability fee, savings rate, or surplus figure is stated here.
  • The 2017 Dai paper remains a separate study. Do not merge them.
  • A peg in a chart is not a redemption rule.

Why the desk still reads it

Sky publishes the later system around USDS and the Sky savings and governance contracts. It is not the 2017 Dai paper, and it does not inherit that paper's parameters.

09 Lexicon

Terms, opened into the record

USDS
The dollar-denominated token defined in the Sky docs. It is not automatically Dai.
Savings module
A contract that distributes a rate. The rate is a parameter, not a property of the name.

10 Repository

Every linked record on this page

Underlined words open a page that already exists: a concept, a protocol profile, a failure record, or another paper. If a word is not underlined, this desk does not have a record for it.

This is Blockchain Lab's reading of a public design paper. It is not the paper, not a copy of it, and not an offer of tokens, equity, custody or a partnership. Later network behaviour can diverge from the text. Nothing here is investment, legal or technical advice.

Research status: Design paper. Last reviewed: 1 October 2026. This is a reading of a public paper, not investment, legal or security advice.