Saltık 
DeFi lending protocol Maker has rebranded itself as Sky in preparation for the launch of its new stablecoin USDS and governance token SKY.
As part of this rebranding, Maker, known as the oldest DeFi lending protocol, has changed the name of its decentralized stablecoin from Dai (DAI) to USDS. Additionally, the protocol has introduced a new governance token, Sky (SKY), which will serve as the upgraded token for the broader Sky ecosystem.
MakerDAO Co-Founder Discusses Rebranding
MakerDAO co-founder Rune Christensen described the rebranding as the start of “the next evolution of DeFi.” In a statement about the rebranding, he emphasized that the new protocol focuses on simplicity and ease of use, offering features such as Sky Token Rewards (STRs) and Sky Savings Rate (SSR) for eligible users. Like its predecessor, Sky Protocol remains decentralized, community-driven, and non-custodial.
The rebranding effort also aims to attract more mainstream users from centralized exchanges (CEXs) by making the protocol more accessible. According to Christensen, the transition from MKR to SKY, with a conversion rate of 1:24,000, increases accessibility to the Sky ecosystem and allows more users to interact with the token beyond fractional ownership.
You may also be interested in: Bitcoin Runes Recorded 15.6 Million NFT Transactions in 4 Months
Maker SubDAOs Rebranded as Sky Stars
As part of the rebranding, Maker’s SubDAOs will now be called Sky Stars. These Sky Stars will function as independent, decentralized projects within the Sky ecosystem, each with their own unique business model and operational autonomy. The first Sky Star to launch will be Spark, an open-source liquidity protocol that currently offers users a 6% yield on DAI deposits and allows borrowing USDS at a 7% interest rate.
Christensen explained that each Sky Star will have the freedom to issue its own governance token, manage its treasury and community, and make independent decisions. This structure will allow Sky Stars to innovate and take on more risk, while the main Sky Protocol focuses on preserving the value and security of the USDS stablecoin. Core Sky Governance will be responsible for mitigating risks, while Sky Stars will handle more specialized business operations.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.