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MakerDAO, the decentralized autonomous organization behind the DAI stablecoin, has rebranded to Sky and introduced a new upgradeable token system. The rebranding includes the launch of Sky Dollar (USDS) and the option for DAI holders to upgrade their tokens to USDS at a 1:1 ratio. This change is part of MakerDAO's "Endgame" plan, aimed at expanding participation in its governance. The governance token MKR will also be upgradeable to SKY at a 1:24,000 ratio. Additionally, the platform will offer SKY token rewards and allow exchanges of ETH, USDC, and USDT for USDS. Existing DAI and MKR tokens will remain active, giving users the choice between old and new tokens. SubDAOs within MakerDAO have been rebranded to Stars, with Spark becoming the first Sky Star. The changes are designed to maintain decentralized governance and avoid external influence.
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