The first ever defi application on Ethereum MakerDao, the original CyptoBank decides to abandon it's famous name and rebrand as Sky.
- Yes The MakerDao, which controls Maker the first defi application on Ethereum and still one of the largest, if not largest crypto defi applications on Ethereum has decided to rebrand as SKY.
Additionally the world famous Dai stablecoin pegged to the dollar will be getting a stablemate USDS
- USDS: A new stablecoin that replaces MakerDAO's DAI stablecoin.
- USDS has a freeze function in its code, which gives Sky the ability to stop transfers from holders' wallets.
- SKY: The new governance token that replaces MakerDAO's MKR governance token.
- DAI: The old stablecoin associated with MakerDAO.
- MKR: The old governance token associated with MakerDAO.
- The rebranding is part of MakerDAO's ongoing overhaul, known as Endgame.
- The new tokens should be available September 18, 2024,
- There will also be a collection of new financial applications called Sky.money.
- The rebranding and other changes are geared towards making the protocol more accessible to more people by simplifying the user experience.
- There will also be a collection of independent financial projects called Sky Stars. These are independent decentralized projects within the new Sky ecosystem.
But...it will not be available in the United States.
- Uncertainty about US laws and the Long Arm of the Law the SEC has most likely resulted in the monumental project being off limits to Americans.
But we can enjoy the pretty pictures on the SKY website...
Last Words
- This is pretty big news.
- This UX change and name change are really a prelude to mass adoption of crypto banks, and the freeze functions are really a giveaway that the government will be able to freeze your funds or take your funds.
- This is probably a glimpse into the future, less radical names, easier to use user interfaces and the power of the goverment to take your money out of your wallet.
- What? We don;t allow that in Western Democracies..Do We?
- Oh... we do..
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