Sky (SKY)
The governance and utility token linked to the Sky Protocol and the MakerDAO ecosystem.
Sky (SKY) serves as a key part of the upgraded MakerDAO governance model, giving holders a way to participate
in the long-term management and evolution of the protocol. It also represents part of the transition from the
older MKR system to a broader framework for decentralized governance.
Below you can view live market data from the CoinGecko API and a concise project overview.
Sky (SKY) Live Data
Current Price: $0.06
Market Cap: $1,267,510,416
24h Volume: $31,584,151
24h Change: 2.13%
Rank: 83
Project Overview
Sky is part of the broader MakerDAO ecosystem and is designed to enhance the decentralization of the project’s governance structure. The token aims to represent a more stable and scalable approach to long-term decision-making for the protocol, connecting directly with the DAI stablecoin system and its risk parameters.
Through Sky, holders can influence upgrades, stability mechanisms, and future collaborations tied to the Maker and Spark protocols.
Key Insights
The launch of Sky (SKY) marks a new phase in MakerDAO’s evolution. It brings a simplified governance model aimed at improving participation and transparency. The token also symbolizes a broader vision of Maker’s expansion into multichain and institutional-grade systems through the Sky protocol.
For investors, SKY functions as a way to gain exposure to one of the most established decentralized finance systems. Its value depends on both protocol revenue and the overall adoption of DAI, which remains one of the most used stablecoins in DeFi.
The success of SKY will likely depend on MakerDAO’s ability to continue generating yield, integrating real-world assets, and maintaining strong risk management in volatile markets.
Common Questions About Sky (SKY)
1. Is SKY replacing MKR?
SKY is part of the new MakerDAO governance framework and represents an evolution of MKR’s role.
2. How is SKY connected to DAI?
It supports the governance and stabilization of the DAI ecosystem.
3. Can SKY be used for staking?
Governance tokens like SKY may participate in decision staking or voting pools.
4. Is Sky a stablecoin?
No, SKY is a governance and utility token. DAI remains the stable asset.
Market Context
The Sky launch comes at a time when DeFi governance is evolving. MakerDAO’s stable ecosystem and consistent revenue generation give SKY a unique foundation compared to newer tokens. As the project transitions toward real-world asset integrations and scalable governance, SKY could become a reference point for decentralized stability and long-term DeFi management.