2 hours ago
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Key Takeaways
- The target implies a $7.6B valuation.
- USDS growth alone does not value SKY.
- Surplus first funds savers and reserves.
- Governance sets rewards and buyback allocations.
- The bank analogy does not remove risks.
The $0.325 Target Implies a $7.6B Valuation
The Block reported that a Standard Chartered research note set a $0.325 target for Sky’s governance token by the end of 2028. The note used a reference price of about $0.065, implying a fivefold move.
Geoff Kendrick, Standard Chartered’s global head of digital-assets research, described Sky as a “federal bank” because it issues stablecoins, has a governance framework and charges borrowers wholesale rates. The phrase describes Sky’s economic model, not a regulated deposit-taking institution.
Sky’s live interface showed SKY near $0.061 and a market capitalization of about $1.43 billio...
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