Sky (MakerDAO) (SKY)

DeFi Rank #10 🟡 GOOD
6.5/10

Score Breakdown

Unlock10/10
Tokenomics9/10
Insider7/10
Onchain7/10
Dev Activity1/10
Revenue5/10
Institutional6/10
Etf5/10
Market Structure7/10
Security8/10

Analysis

Sky Protocol completed its rebrand from MakerDAO with full MKR-to-SKY migration finished in Q1 2026. The protocol launched USDS as a yield-bearing stablecoin offering 5.2% APY, competing directly with traditional savings accounts. Total value locked reached $9.2B across DAI and USDS. The $500M Solana RWA campaign successfully onboarded institutional capital. Weekly buybacks continue at $2.1M, with over $120M in SKY tokens purchased and burned since launch.

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