MakerDAO Becomes Sky: New USDS and SKY Tokens Coming Soon

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. MakerDAO Rebranding to Sky
  2. New Tokens and Their Functions
  3. Sky Stars Concept and Sky.money Platform


    4. MakerDAO has announced its rebranding to Sky and the launch of two new tokens, USDS and SKY, set to go live on September 18, 2024. This transformation is part of the 'Endgame Plan' by co-founder Rune Christensen, aiming to rejuvenate and expand the DeFi ecosystem.

    MakerDAO Rebranding to Sky

    The transition from MakerDAO to Sky represents more than just a name change. It is an ambitious vision to transform the organization’s structure to enhance the growth, accessibility, and resilience of the DeFi economy.

    New Tokens and Their Functions

    The new USDS token will replace the well-known stablecoin DAI, offering an improved version that allows users to migrate their existing assets. The governance token SKY will replace MKR, with a conversion rate of 24,000 SKY per MKR. These tokens will provide advanced functionalities, including access to the Sky Savings Rate (SSR) and Sky Token Rewards (STRs), aimed at encouraging and rewarding participation in the protocol.

    Sky Stars Concept and Sky.money Platform

    A fundamental part of the rebranding is the 'Sky Stars' concept, which includes independent decentralized projects within the ecosystem. The first project under this initiative will be the Spark protocol, designed to drive rapid innovation while maintaining autonomy. Additionally, MakerDAO will launch a new platform called Sky.money, which will offer non-custodial access to the protocol, simplifying user interaction with Sky’s tools. However, some features like the SSR and STRs will be subject to restrictions in certain countries due to regulatory considerations.

    The rebranding comes at a crucial time, with disagreements arising between MakerDAO and Aave. MKR's decision to back a significant portion of DAI with Ethena Labs’ synthetic dollar, USDe, has been seen as risky by some in the DeFi community, leading Aave to propose ceasing support for DAI as collateral on its platform, citing potential systemic risks.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Electrum Wallet Faces Security Threat from Fake Pending Payments

Electrum, one of Bitcoin's oldest software wallets, has published a security advisory detailing a vulnerability that has been exploited by attackers, allowing fake pending payments to be displayed in the wallet.

user avatarMaya Lundqvist

Upcoming Economic Announcements Expected to Influence Markets

Key economic announcements are scheduled for the upcoming week, which may impact financial markets.

user avatarLeo van der Veen

US Evacuates Personnel Amid Rising Tensions in the Middle East

The US is rapidly evacuating personnel from embassies and military bases in the Middle East due to increased threats from Iran.

user avatarLi Weicheng

Strategys Share Repurchases Reach $385.5 Million

Strategy has repurchased approximately $385.5 million of its preferred stock, focusing on STRC shares during the period from October 5 to 18, 2026.

user avatarTenzin Dorje

Shareholders to Vote on Daily Dividend Payments

Strategy is seeking shareholder approval to make dividend payments on its four preferred securities more frequent, proposing that every calendar day would become a record date.

user avatarBayarjavkhlan Ganbaatar

Strategys Common Shares Outperform Preferred Securities

Strategy's common shares returned 774 between June 26 and October 23, 2026, outperforming four of the company's preferred securities.

user avatarAisha Farooq

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.