Binance automatically converts all user DAI balances to USDS at 1:1 ratio

Sky (formerly MakerDAO)/USDS

Binance initiated an automatic 1:1 conversion of all user-held DAI to USDS on April 7, 2026. The exchange cited USDS as the preferred stablecoin going forward, accelerating the migration away from DAI. Similar conversions followed on other major exchanges including Coinbase in May.