According to Cointelegraph, the Maker Protocol officially rebranded as Sky and launched an upgraded stablecoin USDS and governance token SKY, aiming to make DeFi more accessible to the public.
Maker renamed its largest decentralized stablecoin Dai (DAI) to USDS and introduced the Sky (SKY) governance token as an upgraded version of the Maker (MKR) token.
MakerDAO co-founder Rune Christensen said the rebrand is the next step in the evolution of DeFi, and the Sky protocol remains decentralized, community-governed, and non-custodial.
Sky is making the Sky ecosystem accessible to more people by upgrading MKR to SKY at a ratio of 1:24,000. Sky Stars will connect the Sky ecosystem as an independent decentralized project.
The first Sky Star to go online is Spark, an open source decentralized liquidity protocol where users can earn 6% interest on depositing DAI and 7% interest on borrowing USDS.
Sky Stars can autonomously issue governance tokens, manage funds and communities, and independently implement DAO decisions, while the Sky protocol focuses on maintaining the value and security of the USDS stablecoin.
