The lending platform Sky (formerly known as Maker) plans to advance more product improvements and activities in the new year following a major rebranding in August, including accelerating the transition from MKR to SKY tokens and launching more “Stars.”
Sky co-founder Rune Christensen stated on the social platform X on Thursday that the protocol will invest more effort in 2025 to fully transition the governance token MKR to SKY, partly to help eliminate confusion between the MKR and SKY tokens. According to Christensen, this will not put MKR holders in a position where they could lose funds; “on the contrary, the upcoming proposal will make the transition a requirement to gain usability from the tokens.”
Christensen mentioned that more details about the conversion of MKR to SKY will be shared at some point in 2025, adding: “The goal is to ensure that CoinGecko and major exchanges only support SKY, while MKR becomes a legacy wrapped token that represents only, with each MKR representing 24,000 SKY.”
Related article: “MakerDAO Decides to Retain ‘Sky’ Rebranding, Why Did Big Holders Choose to Support?”
Launching More Sub DAOs
Sky also plans to launch more sub DAOs (Decentralized Autonomous Organizations) known as “Stars” in 2025. The design of Stars allows the Sky ecosystem to scale massively without becoming fragile due to excessive interrelated complexities. Christensen stated that changes in the SKY tokenomics have made it a deflationary token, opening the door for the new Star strategy, allowing more Stars to be launched and enabling each Star to operate flexibly.
According to the new model, each of these sub DAOs will establish a foundation upon launch, responsible for controlling the rewards pool for managers and making quick decisions. The first sub DAO in the Sky ecosystem is Spark, which will use this foundation model to enhance its operations and autonomy. The Spark ecosystem is working to launch its token and deliver the SPK airdrop as soon as possible.
Christensen noted that with the new SKY and Star token economic models, along with the shift to the foundation model, creating new Stars will become easier. He believes that Sky will see more founders and teams joining next year to create their own Stars.