Sky sky
What is Sky?
Sky is a decentralized finance protocol and capital-allocation network descended from MakerDAO. Its SKY ERC-20 token is the protocol's governance asset. The Sky ecosystem also includes USDS, a dollar-denominated stablecoin.
What problem does Sky solve?
Sky addresses the need for open, programmable stablecoin liquidity and transparent, rule-based capital allocation. It combines public blockchain, governance-set risk parameters, collateralized stablecoin infrastructure, and automated settlement.
How does Sky work?
SKY is an Ethereum ERC-20 token. Sky governance uses a Chief contract for on-chain voting and protocol-parameter control. SKY originated as the replacement for Maker's MKR. Sky's system issues and manages USDS against protocol-approved collateral.
Key facts
- Protocol lineage: Evolution of MakerDAO
- Token standard: ERC-20
- Governance: Chief V3 for SKY-based voting
- Migration: 1 MKR to 24,000 SKY
- Ecosystem: USDS stablecoin
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Frequently asked questions
What is SKY used for?
SKY is primarily Sky's governance token for on-chain voting.
Is SKY the same as MKR?
No. SKY is the successor governance token; the conversion was 1 MKR to 24,000 SKY.
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