# Rebranding: DeFi Protocol MakerDAO Becomes “Sky”

Alright, folks, let's dive into the latest developments in the world of decentralized finance (DeFi). MakerDAO, one of the largest and most stable DeFi protocols, is undergoing a major rebranding and introducing a new stablecoin. So, buckle up and let's get into it.

## The Rebranding: MakerDAO to Sky

On August 27, 2024, the DeFi protocol MakerDAO announced that it will be rebranding itself as “Sky.” Additionally, a new stablecoin named USDS will be launched on September 18.

MakerDAO is the largest protocol for collateralized debt in the crypto world. If you want to learn more about how crypto lending works, you can read about it here.

According to Rune Christensen, the founder of MakerDAO, Sky represents “an important milestone in the ambitious and controversial ‘Endgame’ overhaul of MakerDAO.” Sky aims to provide a more user-friendly experience.

## New Website and App

The rebranding will include a new website and a new app, which will serve as the front-end interface for Sky. Furthermore, MakerDAO plans to introduce a new stablecoin named USDS in September.

Existing DAI stablecoins and MKR governance tokens can be converted into USDS or the new SKY governance token. The new user interface will also provide access to new features such as “Token Activation Rewards” and the Sky Savings Rate (SSR).

The platform offers a double SSR yield as an incentive for using Sky. However, the protocol cannot currently provide details on the annual percentage yield (APY).

## Sky Stars: A New Ecosystem

MakerDAO also plans to rebrand its ecosystem into “Sky Stars.” These Stars consist of independent decentralized projects, each with its own business model, token, governance, and treasury. Users will be able to farm tokens issued by Stars with USDS.

According to Christensen, Stars are “central pillars of scaling” and enable “experimentation with riskier ideas.” The first Sky Star will be Spark, the credit protocol for the stablecoin DAI.

## The Bottom Line

So, there you have it, folks. MakerDAO is rebranding itself as Sky and introducing a new stablecoin, USDS. Whether you're a seasoned crypto investor or just starting out, it's important to stay informed and stay vigilant.

Crypto is a wild and exciting world, but it's also a complex one. So, always do your own research, consult with professionals, and remember that what goes up can also come crashing down.

## Disclaimer

Alright, folks, before we wrap up, it's time for the obligatory disclaimer. This article is for entertainment and educational purposes only. It's not financial advice, and I'm not your financial advisor. Always do your own research and consult with a professional before making any investment decisions.

Crypto is a wild and unpredictable beast, and what goes up can just as easily come crashing back down. So, be smart, be cautious, and most importantly, have fun out there. After all, isn't that what life's all about?

Until next time, stay curious, stay informed, and keep your eyes on the prize. The world of finance is waiting, and it's a wild ride. So, buckle up and let's enjoy the journey together.

Happy investing, folks!

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