MakerDAO Rebrands To Sky, DAI Stablecoin Optionally Upgradeable To USDS !!
DeFi lending protocol MakerDAO has announced its rebranding to "Sky" and has introduced a new stablecoin (USDS) and governance token (SKY) that will exist in parallel with its existing tokens DAI and MKR.
Notably, users can choose to voluntarily exchange them for the new tokens at a ratio of 1:1 for DAI to USDS and 1:28,000 for MKR to SKY.
The new tokens are expected to be issued on Sept. 18. The changes are part of the protocol's ongoing overhaul called "Endgame."
One noticeable difference between its new USDS stablecoin and the older DAI stablecoin is that USDS contains a piece of code which allows the issuer to remotely freeze the asset.