Rune Christensen, the founder of Sky (previously known as MakerDAO), has proposed a strictly deflationary approach to the governance token supply. This proposal comes as the community prepares to vote on whether to revert the brand or not on November 11th. If approved, the tokenomics would eliminate token emissions under regular conditions, transforming the token structure to be strictly deflationary.
The proposal aims to introduce “Star Token Rewards,” including Spark (SPK), which token holders can earn through governance participation and the activation of Maker’s Seal Engine, adding new incentives for engagement while adhering to the deflationary model.
In addition to the vote on the brand change, the community will decide whether to retain the established Maker brand or fully adopt the Sky identity. If the Sky brand wins, MakerDAO plans to migrate the entire MKR ecosystem into SKY, rebranding MKR tokens as Wrapped 24k Sky Tokens (SKY24K). This transition aims to prevent confusion about legacy MKR tokens and avoid requiring holders to make any changes to their existing positions.
If the Maker brand prevails, Sky would shift into an auxiliary role as a “Star,” promoting adoption in a way complementary to Spark, which primarily drives collateral and borrowing activity. Under this structure, Sky’s token would be renamed OLD_SKY, convertible back to MKR at a fixed rate of 1:24000, or, for a limited time, exchanged 1:1 for tokens governing the Sky Star.
Christensen’s proposal envisions Spark and Sky as complementary “Stars” within Maker’s ecosystem, targeting both the supply and demand sides. While Spark would focus on collateral allocation and borrowing incentives, Sky would concentrate on building adoption through USDS utilization. Sky would also control the Sky.money platform and operate with an Accessibility Reward system, providing incentives for projects that increase USDS adoption.
In its initial phases, Sky will have exclusive access to the Accessibility Reward system, while Spark will hold exclusive rights to Maker’s Allocation System. This temporary distinction aims to streamline each Star’s focus as the ecosystem grows.
The final vote on this proposal will take place from November 11th to November 14th, with additional details to be released in the coming days. MakerDAO is positioned to strengthen its foundational structures, either with a renewed Maker brand or a streamlined Sky transition, fostering sustainable growth through expanded USDS and a more engaged, incentivized community.
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