Sky DeFi team's proposal to revert to the Maker brand was not supported by the community in a recent governance vote.
Background of the Proposal
The proposal sought to bring back the Maker brand to address community concerns over the recent rebranding, replacing MKR token with SKY and rebranding DAI as Sky Dollar (USDS).
Voting Distribution
Data from Sky's governance forum revealed that only 18.5% of voters supported the return to Maker, while over 79% backed the Sky brand. Notably, the vote was dominated by a small group of major holders, who collectively control 77,252 MKR, representing 98% of the total voting power.
Community Reaction and Brand Future
This concentration of power has sparked discussions about potential governance centralization. Some users pointed out the influence a few entities have over key protocol decisions. Proponents of the Sky brand, including Vance Spencer of Framework Ventures, argue that the rebrand supports Maker's broader vision. They believe the Sky brand will drive protocol growth through offerings like decentralized, regulatory-compliant stablecoins and integrations with DeFi platforms.
The vote highlighted a split within the community regarding the rebranding, as well as the influence of large holders on decision-making. Future developments may depend on upcoming initiatives and votes within the Sky community.
