DeFi firm MakerDAO has rebranded as Sky. In a release, Sky indicated that SubDAOs will now become “Sky Stars.”
Sky has also released its new stablecoin, USDS, pegged to the US dollar. A New Sky.money website and app are expected to launch to provide a new interface to the Sky protocol.
Rune Christensen, co-founder of MakerDAO, said Sky marks the next evolution of DeFi.
“Put simply, Sky is the best place to get rewarded for saving without giving up control. The protocol has been built with a relentless focus on simplicity and ease of use. It allows users to benefit from innovations such as Sky Token Rewards (STRs) and the Sky Savings Rate (SSR), provided they are in an eligible jurisdiction. Like MakerDAO before it, the Sky Protocol is decentralized, community-governed, permissionless, and non-custodial, with users free to withdraw their funds at any time.”
The first Sky Star is Spark. SparkLend will now allow users to supply crypto as collateral in the protocol to borrow USDS. SparkLend is a decentralized non-custodial liquidity market protocol reportedly holding $3 billion in TVL.
