The DeFi project Sky has decided to keep its new brand identity after a 79.3% majority vote in favor of retaining it. The Sky brand will be used for the protocol’s frontend app and backend protocol. While the majority of the community supported the brand, concerns about centralized voting power emerged, as only 20 participants voted, with four large entities controlling 80% of the vote share.
DeFi enthusiasts will be interested to know that Sky plans to expand the adoption of USDS by launching Solana and Ethereum Layer 2 solutions, and plans are underway to migrate MKR to SKY across centralized exchanges. Sky is also preparing to launch Spark, its first major project under the new brand, offering SPK token rewards for USDS holders.
Sky co-founder Rune Christensen is excited about moving forward with the new brand and stated that “Sky stays as the brand for the backend protocol powering USDS – the stablecoin with access to native token rewards and savings rate.”
Source
