xDAI Bridge Upgrade to USDS: A Game-Changer for Gnosis Chain

JUN

08

Event date

Sunday 08 June 2025, UTC

Event description

The xDAI bridge, a critical link between Ethereum and Gnosis Chain, will replace DAI with USDS as the default token on Ethereum, while xDAI remains the native gas token on Gnosis Chain. This upgrade, announced by Gnosis Chain (@gnosischain), requires third-party apps to integrate with the new Bridge Router contract by the deadline. The shift to USDS—a stablecoin likely designed for better reserve backing—aims to improve interoperability and reduce bridging risks, addressing DAI’s recent outflows due to MakerDAO’s DSR rate hikes (docs.gnosischain.com).

Recent News

Gnosis has been on a roll! Just two weeks ago, they acquired HQ.xyz for $15M, their biggest acquisition yet, to expand into Asia and integrate self-custodial business accounts into their ecosystem (Tech.eu, 2025-05-14). This aligns with their Gnosis 3.0 strategy, shifting focus to application-layer tools for a decentralized financial system.

Future Plans

Looking ahead, Gnosis aims to integrate HQ (now Gnosis HQ) with Gnosis Chain, Gnosis Pay, and projects like Safe and CoW Swap, per their roadmap (developers.gnosischain.com). This upgrade sets the stage for further innovations, like bridging DSR yields to regain deposits lost to DAI outflows.

Onchain Data

Since the DSR rate rose to 3.5%, ~7M DAI exited the xDAI bridge (docs.gnosischain.com). Stablecoin transaction volumes remain robust, averaging billions daily, even on weekends (visaonchainanalytics.com). Post-upgrade, expect increased USDS activity on Ethereum-Gnosis bridges.

Community Sentiment

X reactions are cautiously optimistic. @SkyEcosystem’s announcement sparked discussions, with users like @NBreitenbe68872 noting its “institutional-grade” potential. However, some devs worry about integration challenges.

Risk Disclaimer

While the upgrade is promising, third-party apps missing the integration deadline may face disruptions. Double-check compatibility!

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USDS (USDS) Events List

Sky Ecosystem Sky Community Call September 25, 2025

Event Details: The Sky Ecosystem is hosting its next Sky Community Call on Thursday, September 25, 2025, at 6:00 PM UTC. This routine community call serves as an update and discussion forum between the project's team and its community. Participants can join through the Sky Ecosystem's official X (Twitter) channel.Recent News: Over the past three months, Sky, formerly known as MakerDAO, has been engaged in a significant token migration campaign requiring holders to swap MKR tokens to the new SKY tokens at a 1:24,000 ratio by September 22, 2025. A governance vote passed to implement a 1% penalty for delayed upgrades starting September 22. The ecosystem also plans to launch the stablecoin sUSDS, integrate with the Althea iFi DEX, and has expanded its community governance structure.Future Plans: The community call is expected to provide insights into the launch timelines of sUSDS stablecoin, updates on the MKR to SKY migration progress, and other ecosystem roadmap details focusing on expanding interchain capabilities and governance enhancements.Onchain Data: * Tokens unlocked: Not publicly available. * TVL: Not publicly available. * 24h / 7d transaction volume: Not publicly available. * Wallet growth / new wallets: Not publicly available. * Staking participation: Not publicly available. * Contract interaction counts: Not publicly available. * Exchange inflows/outflows: Not publicly available.Community Sentiment: Mixed — The community is cautiously optimistic about the transition from MKR to SKY but shows concerns regarding the penalty fee for delayed upgrades. Sentiment on social platforms reflects a mix of readiness and apprehension. Sample comments: "The 1% penalty is fair to keep the migration on track." "Hoping for smooth stablecoin launch and strong governance calls." "Some users feel rushed by the upgrade deadline but understand the rationale."Risk Disclaimer: This event could influence the SKy token price due to ongoing tokenomics changes, specifically the MKR to SKY migration and penalty implementation. Investors should monitor participation and community reaction around the call.Sources used: https://x.com/SkyEcosystem/status/1970507209952968837, https://skyprotocol.org/, https://coinmarketcap.com/cmc-ai/sky/latest-updates/, https://cryptodnes.bg/en/top-crypto-developments-this-week-ethereum-upgrade-base-token-plans-and-more/

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