USDS (fka DAI) is the decentralized, overcollateralized stablecoin of Sky (fka Maker).
USDS is a mid-cap, fully collateralized asset. This asset depends on a centralized entity for custody services. This asset is exposed to the underlying risks of Sky (fka Maker), a protocol rated as Good.
USDS is a stablecoin that usually trades within 20bps of its peg to USD, which makes it a solid store of value.
USDS does not have a supply schedule. USDS is potentially exposed to death spiral risk as its price depends on another asset; however, there are mechanisms in place to prevent reflexivity.