Sky Slashes Buybacks 87% to Bolster Stablecoin Reserves Ahead of Oil Shock

Sky reduces its daily buyback from $300,000 to $37,600 for three months to shore up USDS and DAI reserves amid looming macro disruption.

Rich by Coin

2026-03-13

Sky voted to reduce its buyback programme from $300,000 per day to $37,600 per day, an 87% reduction. The reduction will last just three months.

Sky founder Rune Christensen has suggested it is a necessary precaution due to the war in Iran. “The world is about to experience a massive oil shock and a lot of financial infrastructure will break from this,” he wrote in the cooperative’s Discord server this week. Pausing buybacks will allow Sky to replenish the buffer, proponents have said.

The reduction will last just three months and aims to shore up reserve buffers for USDS and DAI. Sky founder Rune Christensen described the move as a precaution tied to the war in Iran, warning that the world is about to experience a massive oil shock and that financial infrastructure could break from this.