Execution risk is real, even for experienced teams. In an effort to provide exit options to embattled stUSDS depositors, Sky set up a Curve pool and added 500k of USDS rewards. Unfortunately the pool is misconfigured, so a new pool with another 500k USDS rewards had to be spun up. $500k mistake. As a reminder, stUSDS is a yield bearing deposit backed only by SKY tokens, where utilization has remained persistently at 100% despite 35% APY. There is also a proposal on the Curve forum to change the pool fee from 1 basis point to 100 bps, since the pool is specifically intended to support liquidity for a distressed asset. Depositors have consistently fled stUSDS since the initial 40% rate was ratched down sub-5%. Despite bone-crunching rate hikes to attract deposits back to the market, depositors have not outpaced withdrawals as stUSDS holders have fled. Notably, the largest borrower also controls Sky governance and has announced that the liquidation threshold will drop from 145% LTV to 120% LTV, in a move that can’t be helpful to slowing depositor flight. 0 out of 5 stars. Do not recommend. Avoid stUSDS.