Sky is the rebranded governance token of the Sky Protocol (formerly known as MakerDAO), introduced in 2024 as part of the “Endgame” upgrade. The transformation includes two key asset upgrades: MKR converts to SKY at an approximate 1 MKR = 24,000 SKY conversion rate, and the DAI stablecoin is replaced by USDS on a 1:1 basis. Sky preserves the core of Maker’s decentralized governance, stablecoin mechanism, and DeFi heritage, while adding new features like the Sky Savings Rate (SSR), Sky Token Rewards (STRs), and a modular structure of sub-ecosystems now called Sky Stars.