Maker Rebrands to Sky and Prepares for USDS Stablecoin Launch
Maker just rebranded to Sky and is rolling out its shiny new $USDS stablecoin and $SKY governance token on September 18. It’s all part of a major overhaul called Endgame.
Key points:
- Maker protocol is now Sky protocol: Say goodbye to Maker and hello to Sky.
- $USDS stablecoin: The new kid on the block, replacing $DAI on a 1:1 basis.
- $SKY governance token: $MKR holders can swap their tokens for the new $SKY at a 1:24,000 ratio.
- Sky Stars SubDAOs: SubDAOs are now called Sky Stars, with their own tokens and governance.
- September 18 launch: New features, tokens, and rewards are dropping soon.
Maker’s New Look as Sky is Bringing the Heat:
Maker, one of the OGs of decentralized finance (DeFi), just got a major glow-up. They’re now Sky, and with this new name comes a fresh game plan.
As part of their Endgame overhaul (yes, like the Avengers but with crypto), Sky is making moves to simplify DeFi and make it way easier to use.
Learn about the investment opportunity of Maker and The Endgame here!
Here’s the big news: On September 18, Sky is launching a brand-new stablecoin called $USDS and a governance token called $SKY.
$DAI and $MKR aren’t going anywhere, but you can swap them if you want.
One $DAI equals one $USDS, and each $MKR can be exchanged for a whopping 24,000 $SKY tokens. Think of it like upgrading your old tech to the latest model.
Sky isn’t just about new tokens; they’re also giving their SubDAOs a makeover. Now called Sky Stars, these mini-projects are like DeFi satellites orbiting the main protocol.
They’ll have their own tokens, governance, and more. The first Sky Star, Spark, will let you borrow $USDS by putting up your crypto as collateral (just like they already do with $DAI).
To sweeten the deal, Sky’s offering double rewards for early adopters through their Sky Savings Rate (SSR). But heads up, U.S. and U.K. users will be left out of the reward party due to some restrictions.
Sky’s mission? To take on the big dogs like Tether and push DeFi into the mainstream. Buckle up—it’s going to be an exciting ride.
$MKR is one of the 11 holdings of the Milk Road PRO portfolio, to see the other 10 assets click here!
