Sky (formerly MakerDAO) company
Overview
Sky is the rebranded identity of MakerDAO, the Ethereum decentralised-finance protocol behind the DAI stablecoin. The rebrand was announced on 27 August 2024 as part of co-founder Rune Christensen's 'Endgame' plan, first published in May 2022, which restructures the monolithic MakerDAO into a modular network of semi-independent SubDAOs ('Stars'). Alongside the new brand, Sky shipped USDS, a stablecoin that upgrades one-to-one from DAI, and the SKY governance token, which replaces MKR at a conversion rate of 1 MKR to 24,000 SKY. The underlying mechanism is unchanged in kind: users lock collateral in vaults to mint the dollar-pegged stablecoin, with stability fees and a savings rate as the main monetary levers. Both DAI and USDS circulate side by side, with Sky's converter contract minting USDS from DAI on demand and reversing it. Reporting cited in search results puts stablecoin liabilities across DAI and USDS at over $7.8 billion. MakerDAO launched DAI on Ethereum and operated for years as one of DeFi's largest lending protocols. Rune Christensen published the Endgame roadmap in May 2022, and on 27 August 2024 the protocol formally rebranded to Sky, introducing USDS and SKY and the SubDAO structure. Blockworks reported a year into the transition that adoption had lagged the original vision.
Within the DeFi Intel graph, Sky (formerly MakerDAO) connects to 17 tracked entities, most strongly to Dai, USDS, MakerDAO.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 10 of 17 total).
| Relation | Connected entity | Confidence |
|---|---|---|
issued_by | Dai | 95% |
issued_by | USDS | 95% |
rebranded_to | MakerDAO | 95% |
governs | Rune Christensen | 95% |
issued | USDS (Sky Dollar) | 95% |
issued | SKY Governance Token | 95% |
governs | Spark Protocol | 90% |
issued_by | Spark Protocol | 90% |
partnered_with | Centrifuge | 90% |
issued_by | USDS (Solana) | 90% |
Frequently asked questions
What is Sky (formerly MakerDAO)?
Sky (formerly MakerDAO) is a lending tracked in the DeFi Intel knowledge graph. It is connected to 17 other tracked entities, most strongly to Dai, USDS, MakerDAO.
What type of entity is Sky (formerly MakerDAO)?
Sky (formerly MakerDAO) is classified as a lending (company) in the DeFi Intel knowledge graph.
What is Sky (formerly MakerDAO) connected to?
In the DeFi Intel knowledge graph, Sky (formerly MakerDAO) is linked to 17 other tracked entities, most strongly to Dai, USDS, MakerDAO.
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