- Maker Rebranding: A New Era in DeFi
- Sky Stars: New Opportunities for SubDAOs
- Current Achievements in the DeFi Sector
Maker Protocol has officially announced its rebranding with the new name Sky and the launch of updated tokens to simplify decentralized finance for users.
Maker Rebranding: A New Era in DeFi
Maker Protocol, known as the longest-standing DeFi lending project, will now be called Sky. As part of the rebranding, the largest decentralized stablecoin DAI has been renamed to USDS. Additionally, a new governance token for the Sky ecosystem, SKY, has been introduced, designed as an upgraded version of the Maker (MKR) token. MakerDAO co-founder Rune Christensen commented on these changes as follows: "The protocol has been built with a focus on simplicity and ease of use. It allows users to benefit from innovations such as Sky Token Rewards (STRs) and the Sky Savings Rate (SSR), provided they are in an eligible jurisdiction."
Sky Stars: New Opportunities for SubDAOs
As part of the rebranding effort, Maker SubDAOs will be renamed to Sky Stars, remaining independent decentralized projects. The first such project is Spark, offering users a 6% yield for depositing DAI tokens and the ability to borrow USDS at a 7% annual interest rate. Each Sky Star SubDAO will have the ability to autonomously release governance tokens, manage their treasuries and communities, and make decisions specific to their DAO. Rune Christensen noted: "Sky Stars will be able to innovate, experiment, and take more risks, while the Sky Protocol will focus on maintaining the value and security of the USDS stablecoin. Core Sky Governance will protect against end risks, while the Stars specialize in working in the trenches."
Current Achievements in the DeFi Sector
Currently, Spark is among the largest DeFi lending protocols. There are a total of 443 protocols in this category with a combined total value locked (TVL) of over $33.4 billion, making it the second-largest category after liquid staking, which exceeds $44.3 billion in TVL. Spark's current TVL is $2.66 billion, which is a 14% decline from the previous month. Aave remains the leading lending protocol with over $12.1 billion in TVL.
The rebranding of Maker to Sky and the update of its tokens are aimed at increasing accessibility and improving the user experience in the decentralized finance sphere, providing users with more opportunities to participate and engage.
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