SKY Governance Token

Maker’s existing MKR governance token and DAI stablecoin will both remain in existence following this upgrade. You can upgrade your MKR for SKY using the sky.money platform. Each MKR token is redeemable for 24,000 SKY tokens. 

Stars are the equivalent of MakerDAO’s subDAOs. Each Star is a self-contained DAO community with its own governance, branding, business model, and governance tokens, built on top of the Sky protocol. Users who stake USDS, the Sky stablecoin, are entitled to native token rewards in the form of Star governance tokens.

Sky was launched by the MakerDAO team to provide more versatility to the ecosystem, where DAI and MKR tokens continue to exist as a decentralized and permissionless token, and USDS and SKY provide more upgradeable and compliant utility that allow for broader adoption, including institutional access.

Sky is a governance token which enables holders to participate in votes for proposals to upgrade or modify the Sky protocol. 

Sky was launched on September 18, 2024, with SKY tokens issued when users deposit MKR tokens to the Sky platform.