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MakerDAO's rebrand to Sky is the first phase of the ‘Endgame Plan', aimed at completely overhauling its governance.

The decentralized finance platform MakerDAO has been rebranded into Sky protocol, improving its functionalities. According to an official announcement, its tokens also got new names: DAI stablecoin, now USDS, while the MKR token changed to SKY.

According to an announcement made on August 27 by MakerDAO Co-Founder Rune Christensen, Sky is the next phase in the evolution of MakerDAO, and is scheduled for launch on September 18.

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

TL;DR MakerDAO is transforming into Sky and will launch new tokens, USDS and SKY, on September 18, 2024, as part of the “Endgame Plan.” USDS will replace DAI and SKY will replace MKR, with a conversion rate of 24,000 SKY per MKR, and will offer new functionalities.

MakerDAO has rebranded into SKY and introduced two upgraded tokens, including a decentralized stablecoin.

After the launch of the new SKY tokens on September 18, MakerDAO will introduce a Smart Burn Engine designed to focus its liquidity on the SKY/USDS market.

The project's existing cryptocurrencies will remain in circulation, though users will have the option to convert their tokens.

MakerDAO has rebranded to Sky Protocol, renaming tokens on one of cryptocurrency's largest decentralized finance platforms. The crypto lender revealed the rebranding of Maker (MKR) in an announcement on Aug.

The decentralized finance (defi) lending platform Makerdao is embracing a new identity, rebranding as Sky, according to co-founder Rune Christensen. Along with the fresh name, the platform will introduce two new assets: a stablecoin dubbed USDS and a governance token named SKY, both slated for a mid-September launch.

In a strategic move to accelerate decentralized finance (DeFi) adoption, Maker Protocol has undergone a rebranding and is now known as Sky. Alongside the new name, the protocol has introduced new titles for its governance tokens and an enhanced version of its stablecoin, DAI.

Sky's rebranding and new tokens aim to enhance regulatory compliance and mainstream adoption, potentially reshaping decentralized finance. The post MakerDAO rebrands as Sky, reveals new stablecoin and governance token appeared first on Crypto Briefing.

DAI holders will be able to upgrade to USDS 1:1, while MKR holders can convert to SKY at a 1:24,000 ratio.

MakerDAO has rebranded to Sky and announced the names of its upcoming upgraded tokens, USDS and SKY, set for September 18. The release of the names follows its recent confirmation of upgrades to its token ecosystem.

Real World Assets domain cryptos are gaining attention steadily, and the upcoming September 2024 for MKR, ONDO, and, PENDLE, looks favorable for investment. Maker(MKR) MKR is loaded with positive fundamentals like the recent adoption by top crypto asset management Grayscale, which added MKR to its crypto investment list.

The driving motivation behind the changes was "how to scale DeFi to gigantic size" and grow a decentralized stablecoin, Rune Christensen said in an interview with CoinDesk.

Real World Assets (RWA) Tokenization is gaining traction in the crypto market. If you're an investor looking to diversify your portfolio or explore new opportunities, this analysis highlights some of the most promising RWA altcoins to consider in September.

New tokens are coming to MakerDAO's ecosystem and that could mean something.

MakerDAO has introduced NewStable (NST) and NewGovToken (NGT) to enhance user participation in governance and ensure regulatory compliance as part of its strategic endgame plan.

Crypto lending platform MakerDAO, the protocol behind the DAI stablecoin, will allow MKR holders to convert their tokens to NewGovToken (NGT) tokens at a ratio of 1:24,000.

Besides introducing the new governance token, MakerDAO plans to debut a new stablecoin dubbed NewStable (NST).

As part of its endgame plan, MakerDAO has planned an optional conversion of each MKR into 24,000 NewGovToken (NGT) tokens.

MakerDAO has planned an optional conversion of each MKR governance token into 24,000 NewGovToken (NGT) tokens as part of its Endgame plan.

MakerDAO introduced new upgraded versions of its DAI stablecoin and the MKR governance token, called NewStable (NST) and NewGovToken (NGT), respectively. According to the Aug.