Sky

About Sky

SKY is a governance token for Sky Protocol, a decentralized finance platform that launched in 2024 as a rebrand and upgrade of the Maker Protocol. The protocol allows users to trade, save, and earn rewards without giving up control of their funds, using a stablecoin called USDS that is pegged to the US dollar. The system is run by smart contracts, eliminating the need for a middleman. SKY token holders govern the protocol by voting on system changes and can stake their tokens in the Staking Engine to earn rewards and borrow USDS. The protocol also uses SkyLink to connect funds across blockchains for faster transactions.

• Sky Protocol is a rebrand and upgrade of the older Maker Protocol, launched in 2024.
• The protocol uses a decentralized stablecoin called USDS, which is always worth one US dollar.
• SKY tokens serve as governance votes, allowing holders to decide on all major system changes.
• Staking SKY in the Staking Engine enables users to borrow the USDS stablecoin.
• Sky Protocol has no single CEO or traditional core team; it is managed entirely by its global community of SKY token holders.