Sky’s Decentralized Stablecoin Freeze: Will Decentralized Courts Decide?
#sky_2024 #DEFİ #StablecoinSafety #stableBTC
Sky, formerly known as Maker, is exploring a revolutionary governance model for its new stablecoin, USDS. Co-founder Rune Christensen revealed plans for a *decentralized court-like system* to handle appeals related to the coin's freeze functional feature criticized by DeFi pundits.
Although this freeze function won’t be live at launch, Sky’s decentralized governance could *upgrade* it if deemed necessary.
Sky’s protocol is also set to operate on *multiple blockchains* via its *Skylink protocol*, expanding its reach across layer 1 and 2 networks.
Skylink is designed to meet users "where they are" with *native stablecoin* functionality. Launching shortly after Sky’s debut on *September 18*, it aims to create a seamless, decentralized user experience across chains, challenging the traditional "build it and they will come" approach in crypto.
