Founder of Sky (formerly MakerDAO), Rune Christensen, has proposed a strictly deflationary tokenomics approach to the protocol’s governance token as the community prepares to vote on whether to revert to its old name or stay with Sky on November 11. The proposed changes would affect the governance token supply, whether it continues as SKY or pivots back to MSEK.
If approved, the proposed tokenomics would eliminate token emissions under normal circumstances, transforming the token structure to be strictly deflationary. The burning mechanism, integral to Maker’s tokenomics, would permanently reduce the total token supply over time, with the exception of cases of significant financial shortfall.
The ecosystem would introduce “Star Token Rewards,” which token holders could earn through governance participation and activation of Maker’s Seal Engine, adding new incentives for engagement while adhering to the deflationary model.
The community vote will also decide whether to retain the established Maker brand or fully adopt the Sky identity. If Sky wins, MakerDAO plans to migrate the entire MKR ecosystem into SKY, rebranding MKR tokens as Wrapped 24k Sky Tokens (SKY24K).
Christensen’s proposal envisions Spark and Sky as complementary “Stars” within Maker’s ecosystem, targeting both the supply and demand sides. While Spark would focus on collateral allocation and borrowing incentives, Sky would concentrate on building adoption through USDS utilization.
The final vote on this proposal will take place from November 11 to November 14, with additional details to be released in the coming days. MakerDAO is positioned to strengthen its foundational structures, either with a renewed Maker brand or a streamlined Sky transition, fostering sustainable growth through expanded USDS and a more engaged, incentivized community.