Decommissioning MKR, launching subDAOs
Decentralized financial (DeFi) lending platform Sky, formerly Maker, is looking to accelerate its migration from MKR to SKY in the new year, following a massive rebrand in August.
Rune Christensen, founder of Sky, told the X update on December 18 that Further efforts will be made to fully migrate MKR to SKY by 2025, in part to help clear up confusion around MKR and MKR. SKY tokens
According to Christensen, this does not put MKR tokenholders in a position to lose their money, “rather, it makes migration necessary to allow new proposals to benefit from the token.”
Source: Rune Christensen
Christensen said an update and more details on MKR's migration and switch to SKY will be shared sometime in 2025.
“The goal is to ensure that only SKY supports CoinGecko and all, and MKR will be a heritage wrapper representing SKY at MKR 24,000.”
In a governance vote on November 11, stakeholders decided that SKY would serve as the primary token for the ecosystem.
In the same poll, it was decided that Tokinomics should be rejected and long-term supply should be supported by a slash-and-burn method.
More Star Daos will come in 2025
Sky plans to launch additional satellites in 2025, known as Stars. Christensen's switch to SKY tokenomics, by lying, has opened the door to a new star strategy, with more leverage and freedom of movement.
As part of the new model, subsidiary DAOs will be launched on a basis that controls the HR bonus pool and makes quick decisions.
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The first sub-DAO Spark is on track to launch as the first star in the Sky ecosystem and will use the base model.
“With the new SKY and Star tokenomics, and the change to the base model, the ability to create stars will be much easier,” Christensen said.
“Next year, Sky will begin the process of onboarding more founders and teams to create their own stars,” he added.
Sky considered doubling down on its original rebrand in October after confusion and negative feedback on its August rebrand.
The majority of token holders voted to retain the Sky brand rather than revert to a maker. Source: Sky
In the year In a poll held on November 4, 79% of token holders voted to maintain the Sky brand as the backend protocol brand without further changes.
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