MakerDAO Change all it's branding and Now 'Sky' with a new Stablecoin and Governance Token
Why ? The driving motivation behind the changes was "how to scale DeFi to gigantic size" and grow a decentralized stablecoin.
They have a solid path from being one of the Biggest Decentralized Lenders and a huge accomplishment to keep the DAI alive after major Market Crashes, as Well as Being a Center for RWA since 2021!
Takeaways:
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The new USDS stablecoin ($NST) and SKY governance token ($NGT) will be available on Sept. 18 with a new DeFi application to interact with the protocol.
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The protocol's established tokens DAI and MKR will remain in circulation unchanged, and users can decide voluntarily to exchange.
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MKR advanced over 4% immediately after the news.
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The changes are part of the protocol ongoing overhaul called Endgame.
What about the Tokens MKR and DAI ?
DAI and MKR will stay in circulation unchanged, with the new tokens existing in parallel. Token holders will be able to exchange DAI tokens 1:1 for USDS, while each MKR token can be swapped for 28,000 SKY tokens. The new tokens will be issued on Sept. 18, and holders can voluntarily choose to keep the old tokens or exchange for the new ones.
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