Hot Features
Premium
Level up your trading with our powerful tools and real-time insights all in one place.
Rebranding and Launch: From MakerDAO to Sky
After years of meticulous development, the MakerDAO protocol has been rebranded as Sky—introducing a next-generation DeFi ecosystem designed to scale and simplify access to decentralized financial services. With this transformation comes a comprehensive protocol upgrade, known as Endgame, aimed at delivering robust user incentives and enhanced governance mechanisms.
Key Upgrades at Launch
At the heart of the Sky ecosystem are two revamped tokens:
USDS – The upgraded stablecoin (convertible from DAI or USDC at a 1:1 ratio).
SKY – The new governance token (exchangeable with MKR at a fixed 24,000 SKY per MKR rate).
The protocol’s new decentralized portal, Sky.money, allows users to manage token upgrades, access savings features, and earn rewards through integrated features.
Built-In Token Rewards
One of Sky’s most appealing features is its Native Token Rewards. USDS holders automatically earn SKY token rewards without needing to engage with risky third-party protocols. Sky will distribute 600 million SKY tokens annually to USDS holders. Alternatively, users can choose to receive a traditional savings rate.
However, access to rewards is restricted in countries like the US and UK, and also for VPN users.
Launch Timeline and Early Incentives
The official token and product launch is set for September 18. Ahead of this date, eligible users who register on Sky.money can opt in for an Early Bird Bonus, which doubles their SKY rewards for the first month after launch.
Advanced Governance Features
Shortly after launch, Sky will introduce Sealed Activation, which encourages long-term governance participation. Users can “seal” their SKY or MKR tokens behind a small exit fee to earn Activation Rewards in USDS. Over time, users will also be able to claim SPK tokens (related to Spark, a sub-ecosystem of Sky).
Exit fees start at 5% and gradually increase over five years to 15%—designed to foster commitment.
Following this, Regular Activation will launch, offering a flexible alternative to Sealed Activation. Users can activate and deactivate their SKY tokens at will while earning rewards without any lock-in fees.
Source: Bankless.com
Skylink: Enabling Multichain Access
Skylink is Sky’s multichain infrastructure, allowing key features like USDS and SKY rewards to operate across Ethereum Layer 2s and other blockchains. This ensures cheaper transactions and broader adoption.
Stars: Specialized Ecosystems Within Sky
Sky introduces Stars—modular, decentralized subsystems tailored to specific financial functions. The first of these is Spark, a DeFi platform that hosts SparkLend, a lending protocol already among the top ten by total value locked (TVL). Users can generate USDS using crypto collateral through SparkLend.
Spark also manages the Allocation System, which allocates capital to efficient DeFi protocols. This includes the Spark Tokenization Grand Prix, enabling the protocol to invest in tokenized real-world assets (RWAs), building on MakerDAO’s experience.
SPK Token: Governance and Incentives
The SPK token will function as both the governance and incentive mechanism within the Spark ecosystem, empowering community decision-making while rewarding active participation. It will be distributed through multiple channels to encourage diverse engagement:
-
700 million SPK per year will go to USDS users, incentivizing stablecoin adoption.
-
150 million SPK per year will be allocated to activated SKY holders, rewarding those who take part in governance.
-
Another 150 million SPK per year will be distributed to users who have sealed their SKY or MKR tokens, promoting long-term alignment and commitment.
The SPK distribution rate will halve every two years, following a deflationary schedule that helps preserve long-term value, and will be capped at 4 billion tokens over a 10-year period.
In addition to SPK incentives, SPK holders will also be eligible for SKY Activation Rewards, receiving up to 80 million SKY tokens per year as an added benefit for their involvement.
SPK Airdrop and Rewards
SparkLend users can pre-farm the SPK airdrop, separate from token rewards, by engaging with the platform prior to the SPK launch. These incentives are also restricted in certain jurisdictions, including the US, UK, and for VPN users.
Governance and Legal Structure
Sky’s governance is decentralized and enforced by token holders. A foundation—currently under formation—will eventually hold the ecosystem’s key IP rights to protect against centralized interference. This includes maintaining the Sky.money domain through Skybase, an independent entity.
Skybase, while currently limited to maintaining the platform, may expand its scope if Sky’s launch proves successful.
Join the Movement
Sky aims to redefine DeFi by making it scalable, secure, and accessible to everyday users. Builders can integrate with Sky by connecting through @SkyEcosystem on X (Twitter). Interested users can visit Sky.money to sign up and start benefiting from the Early Bird Bonus before the September 18 launch.
The future of finance may be decentralized—Sky intends to lead the way.
Learn from market wizards: Books to take your trading to the next level
