TechFlow news — On August 27, according to Cointelegraph, DeFi lending protocol Maker officially announced its rebranding to Sky, revealing the new names for its upgraded stablecoin and native governance token. As part of the rebrand, the world's largest decentralized stablecoin DAI will be renamed USDS. Additionally, the protocol has launched its native governance token, Sky (SKY), as an upgraded version of the MKR token.
Maker co-founder Rune Christensen stated that the protocol is focused on simplicity and usability, enabling eligible users to benefit from innovations such as Sky Token Rewards (STRs) and the Sky Savings Rate (SSR). The Sky protocol remains decentralized, community-governed, and non-custodial. To enhance accessibility, MKR will be upgraded to SKY at a ratio of 1:24,000. Christensen explained that the larger SKY supply improves the user experience for those wishing to purchase more than just a small fraction of the token.
As part of the rebranding, Maker SubDAO will be renamed Sky Stars, maintaining their status as independent decentralized projects connected to the Sky ecosystem through unique business models and autonomy. The first SubDAO to launch is Spark, an open-source decentralized liquidity protocol that currently offers users a 6% yield on deposited DAI tokens, while allowing them to borrow USDS at a 7% interest rate.
