Sky is the governance token of the Sky Protocol, a decentralised finance (DeFi) ecosystem that evolved from MakerDAO. Sky’s core strength lies in its new, modular governance model, which replaces the former Maker (MKR) token. This new structure is designed for enhanced efficiency, to address scalability and governance challenges, and provide a more robust foundation for a growing ecosystem of specialised financial services.

Sky Protocol builds upon the success of MakerDAO, introducing an upgraded stablecoin, USDS, and a new governance framework. The migration from MKR to SKY, with a conversion rate of 1 MKR to 24,000 SKY, was designed to make the asset more accessible and appealing to a broader range of investors. The protocol's architecture allows for the creation of "Sky Stars," independent sub-projects that can specialise in various areas of DeFi, fostering innovation within the broader Sky Protocol ecosystem.

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