30s Summary

Sky, formerly known as Maker, is planning a swift transition from MKR to SKY tokens in 2025 following its rebrand. MKR token holders’ funds are not at risk and they will receive more details in 2025. The goal is for CoinGecko and other exchanges to support SKY only, with MKR being a legacy wrapper equivalent to 24,000 SKY per MKR. Sky announced plans to launch more subDAOs (Stars) in 2025, facilitated by its shift to deflationary tokenomics. The company will also on-board more founders and teams in the following year for Star creation. 79% of tokenholders voted to retain the Sky brand.

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Sky, a decentralized finance lending platform previously known as Maker, is pushing for a speedy shift from MKR to SKY tokens next year — a move that follows their massive rebrand in August. Rune Christensen, the co-founder of Sky, said in a recent end-of-year update that more energy will be poured into this transition in 2025 to help clear up some confusion surrounding MKR versus SKY tokens.

For MKR tokenholders, this doesn’t put their funds at risk. Rather, proposed plans suggest that this migration must happen in order to maintain the usability of their tokens. Christensen assures holders that more details regarding the process will be shared in 2025. The ultimate goal is to have CoinGecko and other exchanges fully supporting SKY only, with MKR turning into a legacy wrapper equivalent to 24,000 SKY per MKR.

Last year, a majority of voters decided that Sky will act as the main token in the ecosystem. This decision also concluded that Sky should have deflationary tokenomics, backed by long-term supply reduction and a burn mechanism.

In addition to the token switch, Sky also has plans to launch more subDAOs (Stars) in 2025. This was made possible thanks to Sky’s shift to deflationary tokenomics, which allowed for a new strategy where more Stars can be launched and operate autonomously. These subDAOs will launch with a foundation that manages the workforce bonus pool and makes swift decisions.

Christensen also mentioned that Sky will start onboarding more founders and teams next year to create their own Stars. Despite some confusion and negative feedback over its rebrand in August, Sky decided to stick to their new identity rather than reverting to its original Maker name. 79% of tokenholders voted to keep the Sky brand.