Sky, the DeFi lending protocol that was formerly known as Maker, has rolled out its USDS stablecoin on the Solana blockchain. According to the official announcement, Sky said the launch positions USDS as “the first major DeFi-native stablecoin on Solana,” offering new avenues for borrowing, lending, and trading on the blockchain’s leading DeFi platforms. “Today’s…
The DeFi project Sky has retained its new brand identity rather than revert to MakerDAO following a community vote. Polling data revealed that 79.3% of votes supported maintaining the Sky brand as the core protocol name. In contrast, about 18.46% backed a “limited brand refresh” under MakerDAO, while a mere 2.2% preferred a full reversion…
The Ethereum Foundation holds $970.2 million in its treasury, according to the newly released report. This includes $788.7 million in crypto and $181.5 million in non-digital asset investments. A major 99.45% of the foundation’s crypto holdings are in ETH, which represents 0.26% of the total ether supply as of that date. By prioritizing ETH for…
This week, we examine Ripple, Binance Coin, Solana, Dogecoin, and Maker in greater detail. Ripple (XRP) The week started well for XRP, but the price action turned bearish on Wednesday, closing the week with a 3% loss. If buyers don’t return soon, this cryptocurrency may test the support at 48 cents again. Since September, XRP…
Sky’s rebrand faces backlash; community prefers MakerDAO’s established identity. Founder Rune Christensen’s transactions raise concerns about Sky’s direction. Sky, formerly known as MakerDAO, is currently navigating significant changes and community feedback following its rebrand. Founded by Rune Christensen, Sky is grappling with user concerns regarding its new identity and governance structure. The protocol, previously famous…
Rune Christensen, founder of Makerdao, has outlined a comprehensive plan for the future of the decentralized finance (defi) ecosystem, highlighting the success of the USDS stablecoin and introducing the Star Allocation System Framework. A key aspect of the plan includes a possible transition back to the Maker brand, following community feedback on recent changes. Makerdao…
It’s been approximately 38 days since Makerdao, the decentralized finance (defi) project, rebranded as Sky and launched both the USDS stablecoin and the SKY token. During this time, more than a billion USDS coins have been minted, and 530 million DAI have been converted to the new standard. Makerdao Sees 530 Million DAI Upgraded Since…
BA Labs, an adviser to Sky, formerly known as Makerdao, has decided to stop recommending any additional parameter changes regarding the offboarding of wrapped bitcoin (WBTC) collateral. The move follows statements from Bitgo’s CEO Mike Belshe and a vote from Sky community members. Sky Adviser BA Labs Recommends Pausing WBTC Offboarding Changes BA Labs’ decision…
Sky, formerly known as MakerDAO, plans to launch its decentralized stablecoin, USDS, on Solana using the Wormhole interoperability protocol. Rune Christensen, Sky’s founder, announced the move during the ongoing Solana Breakpoint conference on Sept. 20. According to DefiLlama data, Sky is the sixth-largest DeFi protocol, with a total value of assets locked on the platform…
September 13, 2024 at 12:10 PM GST 2 mins read News Sky Protocol’s vote on removing wBTC from its DeFi ecosystem could impact $200 million in loans and collateral. BA Labs proposed wBTC’s removal due to centralization risks linked to Tron founder Justin Sun’s involvement with its custodian. The vote will occur in phases, affecting…
MakerDAO down 24% post-rebrand, facing market criticism and concerns. Early MKR holder sold for 70x profit amid recent rebranding. A long-term MakerDAO holder has drawn attention after selling 251.5 MKR tokens, netting $408,000 worth of Ethereum. The transaction, executed seven hours ago at $1,624 per token, yielded a return of nearly 70 times the initial…
Leading DeFi protocols Aave and Sky (formerly MakerDAO) have partnered to launch Sky Aave Force, aiming to bridge the gap between decentralized finance and traditional financial systems. In a statement on Sept. 3, the initiative was described as a crucial step toward creating a more resilient and aligned ecosystem, with goals of broader accessibility, increased…
The Gnosis Chain community is reconsidering gas tokens due to USDS’s centralization concerns. Chainlink’s CCIP and Automation now operate on Gnosis, boosting blockchain development. The Gnosis Chain community is at a critical juncture as it reconsiders its gas token selection in light of important developments inside the MakerDAO ecosystem. With the debut of MakerDAO’s new…
MakerDAO has upgraded DAI as USDS, adding a controversial freeze function that raises decentralization concerns. MKR token holders are gearing up for governance updates to strengthen the protocol. Maker, a leading platform in decentralized finance, has recently undergone a rebranding and is now known as Sky. Alongside this change, their widely-used stablecoin, previously known as…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 The decentralized finance (DeFi) project Sky (formerly called Maker) is facing backlash following the announcement of an upgraded stablecoin that some fear could compromise the project’s commitment to decentralization. The new stablecoin, USDS, has drawn criticism for including a so-called “freeze function,” a feature that would allow the token’s…
Maker, one of the first and largest DeFi lending protocols on Ethereum, has rebranded to “Sky” following key upgrades to its decentralized stablecoin system. That stablecoin, previously known as DAI, has also rebranded to USDS, and the MKR governance token has been changed to SKY. From MKR to SKY: What’s New? As announced over Twitter…
The decentralized finance (defi) lending platform Makerdao is embracing a new identity, rebranding as Sky, according to co-founder Rune Christensen. Along with the fresh name, the platform will introduce two new assets: a stablecoin dubbed USDS and a governance token named SKY, both slated for a mid-September launch. Sky Unveils USDS and SKY Tokens Amid…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 MakerDAO, a Decentralized Finance (DeFi) stablecoin platform, has introduced two new tokens, NewGovToken (NGT) and NewStable (NST), as part of its ambitious “Endgame Plan.” According to a post, these new tokens enhance governance participation within the MakerDAO ecosystem. NGT, the new governance token, is designed to encourage greater involvement…
MakerDAO, the decentralized autonomous organization behind the DeFi protocol Maker, has approved a proposal to halt new borrowing against BitGo’s wrapped Bitcoin (WBTC). On Aug. 15, MakerDAO revealed that it was reducing the debt ceiling for all WBTC vaults to zero. This move effectively prevents any new borrowing from these vaults and lowers WBTC’s loan-to-value…