# MakerDAO Is Now 'Sky'

Source: https://www.coindesk.com/business/2024/08/27/makerdao-is-now-sky-as-7b-crypto-lender-rolls-out-new-stablecoin-governance-token
Kiwi News: https://news.kiwistand.com/stories/MakerDAO-Is-Now-Sky?index=0x66cdca2ba685177b00459c16d13abf2e1df50d24266c440706f192f7a6f33fdbccf103e2
Submitted by tim on 2024-08-27 UTC, 7 upvotes, 5 comments

## Summary

MakerDAO has rebranded as Sky as part of its multi-year "Endgame" overhaul, with co-founder Rune Christensen saying the goal is to grow DeFi to a scale as large as Tether or bigger. The protocol, which has $7 billion in assets, will introduce a new stablecoin, USDS, and governance token, SKY, on Sept. 18. Existing DAI and MKR will remain in circulation, with DAI exchangeable 1:1 for USDS and each MKR swappable for 28,000 SKY. Christensen said reward accrual for USDS and SKY holders will be restricted in certain jurisdictions, including the U.S. and U.K.

## Comments

**@d**: not sure how a 4% price surge is justified but I’ll take it

**tim**: The USD stablecoin will now be called USDS. It will be good for normies because for them it‘s now yet another USD stable, whereas „DAI“ may have sounded sketchy.

But USDS submits itself also to a long list of stable coin commodities (branding wise) where one letter is pinned to USD

USDD
LUSD
EUSD
USDC


There are so many of these. Isn‘t it important to differentiate?

**misha**: An involuntary thought when I read Sky Stars (maybe also the logo) was Zora Sparks. To make it even more confusing they have also Spark of course, the lending platform build on top of Sky. lol.

Maybe someday I should do a name change too. You’ll get used to it quick. Facebook/Meta, Twitter/X, Maker/Sky, not to forget upcoming Matic/Pol. (Don’t know about that one though haha, bit sentimental about Matic.) Kiwi/Jackfruit? 

Anyway gm. Just some random morning coffee thinking. ☕️

**macbudkowski.eth**: Funny thing is that the MakerDAO handle got sniped by some Chinese account:
https://x.com/MakerDAO

**tim**: > Kiwi/Jackfruit

I personally haven‘t even eaten Jackfruit. But the tendency is also either to rename to something dumber. Since Kiwi News is already a really bad name, we‘d only be left to call ourselves news.money or Newsify