MakerDAO's Rebrand
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On Aug 27th, MakerDAO announced that it is rebranding as "Sky" for scalability and accessibility reasons.
One of the key aspects of the rebrand is the introduction of new tokens — a governance token new features called SKY, and a stablecoin called USDS that's a scalable alternative to DAI.
The SKY token will come with "Sky Savings Rate (SSR)" and "Sky Token Rewards (STRs)" designed for incentivizing and rewarding participants.
Existing MakerDAO users will have the choice whether to transition to SKY and USDS. DAI will be 1:1 with USDC and 1 MKR will be 24,000 SKY.
"Sky Stars" will be independent decentralized projects in the ecosystem with autonomy. "Sky Money" will be a non-custodial platform for accessing the Sky protocol.
The initial launch date is September 18th. Its rewards features are to be restricted in certain jurisdictions.
However, the community showed criticism towards the rebrand and concerns over a potential shift from decentralization. Some said it's going against the original vision.
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