Sky proposes rebranding back to Maker

The DeFi protocol focused on the stablecoin Sky (previously Maker) is considering making additional branding changes after evaluating community feedback on the initial rebranding. MakerDAO, the decentralized autonomous organization behind the DAI stablecoin, transitioned to Sky in August this year. This rebranding allowed DAI holders to upgrade their tokens to the new stablecoin called Sky Dollar (USDS) at a 1:1 ratio, and the MKR governance token of MakerDAO to the SKY token at a 1:24,000 ratio. The existing DAI and MKR tokens continue to function. According to founder Rune Christensen, some community members have expressed concerns about the utility of the SKY token. Christensen also acknowledged that the new reward systems introduced in the SKY token roadmap, along with the protocol's new features, may be difficult to track. "Using Sky as the name for the protocol, token, and user interface has certainly caused some confusion," Christensen wrote on X, and further emphasized that many community members remain committed to holding MKR instead of upgrading to SKY. This comes as the total supply of USDS has surpassed 1 billion just two weeks after its launch. The token has been integrated into major DeFi protocols such as Aave, Ethena, and Morpho. Meanwhile, Christensen acknowledges the strong community attachment to the Maker brand, suggesting that it may be beneficial to reposition it while maintaining a distinct role for Maker and Sky. The Sky founder has proposed three options for the community: continue developing with Sky as the core brand, reintroduce Maker as the central identity in its original form, or reposition Maker as the core brand with some minor changes to better fit USDS and the subDAOs called Stars. Sky plans to hold a community meeting this Friday to discuss the options. "After the community meeting, I will synthesize all the feedback and propose an implementation of the idea in the form of an Atlas Edit, which could be voted on starting October 28th. If approved, this would trigger a choice poll in the week starting November 4th," Christensen wrote.