Inspired by the recent conjecture that the universe has transitioned from AdS vacua to dS vacua in the late universe made via graduated dark energy, we extend the standard ΛCDM model by a cosmological 'constant' (Λs) that switches sign at certain redshift, z † , and name it as ΛsCDM. We discuss in detail the construction and theoretical features of this model, and find out that, when the consistency of the ΛsCDM model with the cosmic microwave background (CMB) data is ensured, (i) z † 1.1 is implied by the condition that the universe monotonically expands, (ii) H0 is inversely correlated with z † and reaches ≈ 74.5 km s −1 Mpc −1 for z † = 1.5, (iii) H(z) presents an excellent fit to the Ly-α measurements provided that z † 2.34. We further investigate the model constraints by using the full Planck CMB data, with and without baryon acoustic oscillations (BAO) data. We find that the CMB data alone does not constrain z † but CMB+BAO dataset favors the sign switch of Λs providing the constraint: z † = 2.44 ± 0.29 (68% CL). Our analysis reveals that the lower and upper limits of z † are controlled by the Galaxy and Ly-α BAO measurements, respectively, and the larger z † values imposed by the Galaxy BAO data prevent the model from achieving the highest local H0 measurements. In general, the ΛsCDM model (i) relaxes the so-called H0 tension while being fully consistent with the TRGB measurement, (ii) removes the discrepancy with the Ly-α measurements, (iii) relaxes the so-called S8 tension, and (iv) finds a better agreement with the BBN constraints of physical baryon density. We find no strong statistical evidence to discriminate between the ΛsCDM and ΛCDM models. However, interesting and promising features of the ΛsCDM model, as turned out in our study, provide an upper edge over ΛCDM.