According to a report prepared by contributors to Steakhouse Financial, Sky (formerly MakerDAO) lost $5 million in Quarter 1 this year as interest payments to token holders doubled.
The loss was in sharp contrast to the previous quarter, when Sky posted a profit of $31 million. The 102% increase in interest expense was mainly due to Sky's decision to push users to use its newly launched stablecoin, Sky Dollar (USDS), through higher incentives to replace the existing DAI.
Sky Q1 loses $5 million as incentive USDS interest expense rises 102%
2025-05-13 18:47:55
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