Maker rebrands as SKY, DAI will be upgradeable to USDS

As part of its Endgame overhaul, Maker will henceforth be known as Sky, while its decentralized DAI stablecoin and governance token MKR will be known as USDS and SKY respectively.

Users will have the option to upgrade their tokens to USDS and SKY voluntarily from Sept. 18 onwards. Each MKR token can be exchanged for 24,000 SKY tokens.

For users that choose not to upgrade, both DAI and MKR will remain in existence as legacy tokens in the renamed Sky protocol.

Users that choose to upgrade will be able to benefit from core new features like native token rewards, where users holding the USDS stablecoin can earn SKY governance token rewards, accessed via the projects new app sky.money.