On October 31st, Sky (formerly MakerDAO) founder Rune Christensen posted that it is planning to make an additional proposal to change the core token (whether the result is MKR or SKY) to a strict deflationary token economics. Under normal circumstances, no tokens will be issued, and as the destruction engine permanently removes the tokens from circulation, the total supply will only decrease over time. The only exception is in the case of a shortage of collateral, which would put USDS and DAI at risk of bankruptcy. This is the original MKR token economics. At the same time, in addition to the strict economics of deflationary buying and destruction tokens, core tokens (MKR or SKY) can still earn star token rewards through activation, such as Spark SPK.
It further stated that if the vote is to retain the Sky brand, the proposal will fully promote the transition of the entire ecosystem from MKR to SKY, MKR will be renamed Wrapped 24k Sky Token (SKY24K); if the vote to reposition the Maker brand is won, Sky will be transformed into a Maker Star similar to Spark. The current SKY token will be changed to OLD_SKY, permanently exchanged back to MKR at a fixed ratio of 1:24000.
Sky founder: Plans to make additional proposal to change core token to strictly deflationary
2024-10-31 10:23:43
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