MakerDAO Rebrands to Sky Network: Understanding the Transition to SKY Governance Token
Tuesday, 27 August 2024, 08:02
MakerDAO's Transition to Sky Network
In a significant move, MakerDAO has officially rebranded to Sky Network, with the SKY token now serving as the governance token. This transition marks a pivotal moment for the decentralized finance community.
Details of the Rebranding
Starting from September 18, the decentralized stablecoin DAI will be rebranded as USDS. This change aims to enhance user engagement and bolster the platform's offerings.
New Developments
- Sky Stars: A new feature to reward users.
- Spark: A DeFi lending platform providing DAI depositors a 6% yield and 7% interest.
The rebranding is expected to position Sky Network as a leader in the DeFi space.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.