Sky Community is Considering a Final Proposal to Replace MKR with SKY as the Sole Governance Token
May 1st news, Sky (formerly MakerDAO)'s core governance design team Atlas Axis submitted a proposal on Wednesday that, if approved, will complete the protocol upgrade from MKR to SKY. This transition will make SKY the sole governance token and support staking, unlocking USDS rewards for SKY holders. Sky co-founder Rune Christensen praised the proposal as a "significant milestone" in a forum post. Although USDS and SKY are introduced as upgrade tokens, DAI and MKR remain in circulation, allowing users to choose to convert their held tokens to the new tokens for a gradual transition.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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