In a major update to the decentralized finance (DeFi) world, MakerDAO has rebranded its Maker Protocol as “Sky,” signalling a fresh direction for the prominent DeFi platform. This rebranding introduces key changes, most notably the renaming of the decentralized stablecoin Dai (DAI) to USDS and the transformation of the governance token Maker (MKR) to Sky (SKY). The overhaul is part of the broader “Endgame Plan,” a vision set by MakerDAO’s co-founder, Rune Christensen, to evolve the platform and enhance its user experience.
The rebranding to Sky is intended to make DeFi more accessible, especially for users unfamiliar with the complexities of decentralized systems. By renaming Dai to USDS, the protocol hopes to appeal to a wider audience, positioning itself as a user-friendly alternative to centralized finance. USDS is designed to retain the key properties of Dai while aligning itself with a more relatable and approachable identity for new users.
In addition, the MKR token has been upgraded to SKY, which comes with a significant change in tokenomics. Existing MKR holders can convert their tokens at a rate of 1:24,000 to SKY, vastly increasing the token’s supply and making governance participation more widespread. This increase in accessibility is a central part of Sky’s vision to democratize DeFi governance.
Another significant feature of the rebrand is the introduction of “Sky Stars,” decentralized projects within the Sky ecosystem. These projects, formerly known as Maker SubDAOs, will operate independently while contributing to the overall growth of the ecosystem. The first of these, Spark, has already launched, offering decentralized liquidity services. Spark enables users to earn a 6% yield by depositing USDS, positioning itself as a major player in DeFi lending with a total value locked (TVL) of over $2.6 billion【9†source】【10†source】【11†source】
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This rebranding is more than a facelift; it’s a strategic move to solidify Sky’s role as a leader in decentralized finance. By focusing on accessibility, user experience, and decentralized governance, the newly minted Sky Protocol is poised to drive the next wave of DeFi adoption.
