MakerDAO has been renamed 'Sky' and will launch a new stablecoin called USDS and a governance token called SKY on September 18th.

PANews, August 28th - According to CoinDesk, Decentralized Finance giant MakerDAO has been renamed as ‘Sky’ and will launch a new stablecoin called USDS and a governance token called SKY on September 18th. The existing DAI and MKR tokens will continue to circulate, and users can choose to voluntarily exchange them. DAI can be exchanged for USDS at a ratio of 1:1, and each MKR token can be exchanged for 28,000 SKY tokens. This is part of their Endgame plan, aiming to expand Decentralized Finance on a larger scale, even surpassing the $116 billion issuance of Tether (USDT). The Sky platform also plans to split its platform into independent entities called ‘Stars’, with the first one being Spark, a lending platform based on Sky.