Sky Protocol, formerly MakerDAO, is a decentralized finance ecosystem known for its USDS stablecoin, focusing on scalability and regulatory compliance.
| Product | Backing | Status | Market cap |
|---|---|---|---|
| USDSSky Dollar | Crypto Backed | Active | $9.8B |
| DAIDAI Stablecoin | Crypto Backed | Active | $4.6B |
| SUSDSsUSDS | Crypto Backed | Active | $4.7B |
| SDAISavings Dai | Crypto Backed | Active | $166M |
| Founded | 2017 |
| Stage | DAO |
| Founders | Rune Christensen |
| Funding rounds | Round Strategic token purchase · Amount $15M · Year 2018 · Investors: Andreessen HorowitzRound Strategic token purchase · Amount $28M · Year 2019 · Investors: Dragonfly Capital, Paradigm |
| Key events | Date 2024-08 · Event MakerDAO rebranded to Sky Protocol and introduced USDS; DAI can be upgraded 1:1 to USDS but DAI remains active |
| Website | https://sky.money |
Sky Protocol, rebranded from MakerDAO in August 2024, is a decentralized finance ecosystem governed by SKY token holders. It aims to enhance scalability and integrate real-world assets. Sky Protocol operates without traditional regulatory licenses, relying on decentralized governance to comply with applicable regulations.