MakerDAO Rebrands to Sky, Launches USDS Stablecoin and SKY Governance Token

MakerDAO has officially rebranded to Sky, introducing a new stablecoin, USDS, and governance token, SKY. The rebranding aims to expand decentralized finance (DeFi) accessibility, marking a significant evolution in the DeFi space.

MakerDAO, one of the pioneering decentralized finance (DeFi) lending protocols, has announced a major rebranding initiative, officially renaming itself to Sky. As part of this transformation, the protocol has introduced an upgraded stablecoin, USDS, replacing the long-standing Dai (DAI), and launched a new governance token named SKY, which will govern the broader Sky ecosystem.

This rebranding effort is positioned as a key move to make DeFi more accessible to mainstream users, according to Rune Christensen, the co-founder of MakerDAO. The transition to the Sky ecosystem is seen as the “next evolution of DeFi,” aiming to draw more users from centralized exchanges (CEXs) into the decentralized world.

In the rebranding, the Maker (MKR) token will be upgraded to SKY at a ratio of 1:24,000, significantly increasing the token supply. This change is intended to enhance the user experience by making the tokens more accessible to a broader audience, allowing users to purchase more than just fractions of the token.

As part of the rebranding, Maker SubDAOs will now be known as Sky Stars. These independent, decentralized projects will connect through the Sky ecosystem, each with its unique business model and autonomy. The first subDAO to go live is Spark, a decentralized liquidity protocol offering a 6% yield for depositing DAI tokens and allowing users to borrow USDS at a 7% interest rate.

Sky Stars will have the autonomy to release their own governance tokens, manage their treasuries, and implement decisions specific to their DAOs. Meanwhile, the core Sky Governance will focus on maintaining the value and security of the USDS stablecoin.

Our creator. creates amazing NFT collections! 
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)

Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.

Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).

Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)

Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)