The DAI stablecoin was replaced by USDS as part of the MakerDAO project rebranding

Also as part of this rebranding, MakerDAO changed its name to Sky. The MKR governance token was replaced by an updated governance token under the ticker SKY.

DAI and MKR remained in circulation unchanged, the developers emphasized. Users will be able to exchange them for new tokens at a rate of 1:1 for DAI and 28,000 SKY for each $MKR

Since September 2024, the USDS supply has grown from 98.5 million to 2.32 billion, which represents an increase of 135% in five months.

In contrast, the DAI supply has decreased from 5.29 billion to 3.62 billion (- 31.5%).