Sky Endgame Community Considers Rebranding as Maker

CoinJiawang report:
Author: Martin Young, Cointelegraph; Translation: Tao Zhu,
Since August, there has been apparent confusion and negative feedback in the rebranding of the decentralized finance lending platform Sky, and the platform is considering restoring the original Maker brand.
On October 21st, Rune Christensen, co-founder of Sky, proposed a discussion on “re-establishing the Maker brand” at the platform’s governance forum.
He emphasized the recent launch of the decentralized stablecoin USDS and the success of the Sky protocol since it was renamed from Maker at the end of August.
However, there is some confusion within the community regarding the roles of the Sky token and the Maker brand, and the feedback indicates that people have a stronger affinity for the Maker brand than for Sky.
“It is now clearer than ever that the DeFi community loves and trusts the Maker brand,” he added:
“People have a lot of affinity for this brand and what it represents – stability, security, and the scale of DeFi. Holding MKR tokens has many commitments compared to upgrading to SKY.”
To address these issues, he proposed three possible directions:
Continue to use Sky as the core brand, leverage its recent momentum, reposition the Maker brand in its original identity, restore MKR as the sole governance token, and modernize it; align with USDS.


Sky brand restructuring proposal. Source: Sky Governance Forum
The next steps include collecting feedback at a community conference call on October 25th and conducting a governance poll on November 4th to decide the future direction of the Maker brand and token economics.
Although Maker was renamed Sky in August, most of the commotion at the time was about the platform’s new stablecoin, USDS. The cryptocurrency community criticized the “freeze function” of USDS, which raised concerns about its decentralization.
Despite MKR being renamed to 24,000 SKY tokens, the former governance token of the DeFi platform has dropped by 45% since the rebranding at the end of August.
MKR further declined 3.5% to $1,178, the lowest level since September.


MKR/USD 1 year. Source: Tradingview