Sky SKY
Cryptocurrency · DeFi · Not Mineable · launched in 2024
№51of 40 004
- $0.0611
- Price −8.23%
- $1.63 billion
- Capitalization
- $11.29 million
- Volume over 24 hours
- 0.06%
- Dominance
About the coin
- Circulating supply
- 23.42 billion SKY
- Total supply
- 23.45 billion SKY
- Maximum supply
- 23.46 billion SKY
- Fully diluted capitalization
- $1.64 billion
- 24h high
- $0.0668
- 24h low
- $0.0598
Sky (SKY) is a leading decentralized finance (DeFi) protocol on Ethereum, resulting from a major rebranding and evolution of the MakerDAO ecosystem under the Endgame plan. The protocol is responsible for the decentralized issuance and management of the over-collateralized stablecoin USDS (an updated version of the legacy DAI token).
The system architecture consists of independent modular sub-DAOs (Sky Stars), such as Spark, which develop separate lending and RWA asset directions. The native SKY token replaced MKR at a 1:24,000 ratio and is used for on-chain voting, staking, protocol reward accumulation, and security provision.
Additional information
FAQ
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Sky is an updated ecosystem of decentralized finance that became the evolutionary continuation of MakerDAO — one of the oldest and most time-tested DeFi protocols on Ethereum. The project focuses on issuing decentralized stablecoins and providing tools for efficient savings and yield accumulation.
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Sky is the result of a rebranding as part of Endgame's long-term development strategy. The new SKY token replaces the old MKR token. MKR holders can exchange their assets for SKY at any time through the Sky.money interface at a fixed ratio of 1 to 24,000.
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USDS is the new flagship decentralized stablecoin of the Sky protocol, pegged 1:1 to the dollar and serving as an improved successor to DAI. USDS is over-collateralized by crypto reserves and tokenized real-world assets (RWA). Unlike classic DAI, USDS is optimized from the start to provide built-in yield to holders through the Sky Savings Rate module.
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SKY serves as the primary token for decentralized governance (DAO). Token holders vote on protocol parameters, interest rates, and collateral additions. Additionally, users can send SKY to Activation and Seal Engine modules, earning rewards in USDS and subsidiary project tokens.
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To scale governance, the protocol is divided into independent specialized divisions — Sky Stars (formerly known as SubDAOs). Each "star" is an autonomous mini-project with its own team, tasks, and governance token (e.g., Spark in lending). This allows the main Sky network to remain lightweight and secure by delegating local business decisions to specialized communities.
Legal status of crypto assets in Uzbekistan
This section is for reference only and shows global market data. MONIQ is not a crypto asset service provider, does not carry out operations with crypto assets and does not give individual investment advice.
- Crypto assets are not legal tender in the Republic of Uzbekistan: they cannot be used to pay for goods and services, except in cases directly established by law.
- Residents may buy, sell and exchange crypto assets only through providers licensed by the NAPP — crypto exchanges, crypto shops, crypto depositories and mining pools registered as legal entities resident in Uzbekistan.
- The register of licences is maintained by the National Agency of Perspective Projects. Licences are issued and revoked, so the composition of the register changes — check the status of a venue at the moment of the transaction.
- Until 1 January 2029 transactions with crypto assets are not subject to taxation, and income from them is not included in aggregate income.
- Crypto assets are not traded on the RSE «Toshkent» and are not available through a broker account. There are no guaranteed returns, investments are not insured, and the price may change by tens of percent in a short time.
The information does not replace legal advice. Regulation changes — before any transaction check the current wording of the law and the register of licences at .