🔄MakerDAO rebrands to Sky, DAI stablecoin optionally upgradeable to USDS.

MakerDAO, the decentralized autonomous organization behind the DAI stablecoin, has rebranded to Sky and named its new upgradeable tokens, set to launch on Sept. 18.

As part of the project’s “Endgame” plan, the changes will allow DAI holders to upgrade to a new stablecoin, Sky Dollar (USDS), at a 1:1 ratio that provides access to native token rewards. MakerDAO’s governance token, * MKR +0.69% , which currently has a value of $2,129, according to The Block’s MKR price page, will become upgradeable to SKY at a 1:24,000 ratio.

The Block reported on the redenomination plans last week, though the token names had yet to be unveiled. The redenomination aims to broaden participation in MakerDAO’s governance by allowing more users to hold significant amounts of SKY.