MakerDAO is renamed Sky! The four major Whales 'monopolize the vote', and USDS jumps to the third largest Stable Coin.

MakerDAO founder Rune Christensen proposed whether to restore the Maker brand in October, and the vote showed that nearly 80% of the votes were in favor of retaining the Sky brand. However, the yes vote was cast by almost four Large Investors, with only one Large Investors dissenting, and only 21 Addresses voting on the entire proposal. (Synopsis: Rescue MakerDAO" founder festival "Sky deflation new proposal" to encourage MKR to jump against the market) (Background supplement: MakerDAO changed its name to Sky was washed by the community, and the founder considered changing the brand back to "Maker") DecentralizationStable Coin DAI publisher MakerDAO announced a rebranding at the end of August this year, renaming MakerDAO to Sky Protocol (hereinafter referred to as Sky), and in mid-September launched upgraded versions of DAI and MKR, respectively, USDS and SKY. However, the reinvention of Sky was not well received by the community, and founder Rune Christensen also tweeted that many people actually prefer the Maker brand, so on October 22, Rune Christensen put forward a proposal for the community to decide whether to change the brand back to Maker. MakerDAO votes to still rebrand as Sky Now, the vote on this proposal is out, and the community members have decided to maintain the rebranding as Sky. According to the MakerDAO Governance Forum, of the three options, namely "Keep the Sky brand as the core of the protocol", "Redefine the Maker brand with limited updates", and "Restore the Maker brand", the option to keep the Sky brand as the core of the protocol received nearly 80% of the votes, showing overwhelming support. However, only 21 Addresses actually voted, and 5 of them, Large Investors, accounted for almost all of the voting rights, each of which held about 20% of the voting rights. Of the 5 Large Investors, 4 Addresses voted in favor of rebranding Sky, and only one Large Investors chose to support redefining the Maker brand with a limited update. The impact of reshaping into Sky The official tweet said that this decision supports a smooth transition from MKR to SKY, and officially establishes Sky as a core brand, covering the front-end interface of Sky applications and the back-end Sky ecosystem and protocol. The updates brought by MakerDAO's rebranding for Sky include: USDS: USDS is the DecentralizationStable Coin of the Sky ecosystem, users can upgrade DAI to USDS and receive token rewards in the Sky ecosystem without additional external protocol risks or relinquishment of control. SKY: SKY is the native governance token of the Sky ecosystem and is an upgraded version of MKR. MKR can be voluntarily converted to SKY at a rate of 1:24,000. Sky Stars: Sky Stars is an independent decentralization project within the Sky ecosystem that drives innovation and scale, and serves as a gateway to the Sky Protocol. Sky.money: Sky.money provides eligible users with access to the Sky Protocol as an unmanaged and permissionless portal. It is worth mentioning that MKR and DAI will continue to exist and are not officially permanently deprecated. Currently, USDS has overtaken DAI as the third largest stable coin, with a Market Cap of $5.6 billion, surpassing DAI's $3.28 billion. VC optimistic about Sky's development For the rebranding of MakerDAO, Framework Ventures founder Vance Spencer expressed support, saying in an email: It's worth knowing that SKY hasn't actually had a chance to officially launch yet. It didn't get support on any major exchanges, and Coingecko didn't convert MKR's Market Cap to SKY, and the rebranding coincided with a big fund selling their MKR and the market retracement as a whole. Spencer noted that reinventing Sky is part of MakerDAO Endgame's project, whose long-term goals include: launching new Stable Coins, including Puredai, a decentralized and uncensored Stable Coin, and NewStable, a regulatory, mass-market Stable Coin. Extend to Solana and Base; Plan to partner with Aave to support USDS rewards; Launch of stakeprotocol using SKY and MKR; Create a custom bridge called SkyLink for the EVM chain; Committed to the development of asset tokenization Spencer said that Endgame will launch a large number of products next month and beyond. Ultimately, it's the product and the rise that really matter. The question now is – are people disgusted with the SKY brand or unhappy with its price movements? As an encryption OG, I understand that MKR does have brand value to some extent, but after thinking about it, I think that brand value is relatively limited except in [encryption] circles. In fact, DAI's brand value is higher, and that will continue to happen. Related reports BA Labs recommends indefinite suspension of delistWBTC, Sky divestiture turmoil ushered in a reversal MakerDAO throws money: provides 2 million SKY rewards every week, connects Wormhole to accelerate Cross-Chain InteractionSolana MakerDAO suddenly changes its name to "Sky", Stable CoinDAI exchange USDS behind the freeze function? 〈MakerDAO confirmed to change its name to Sky! The four major whale "monopoly votes" USDS jumped to the third largest Stable Coin" This article was first published in BlockTempo "Dynamic Trend - The Most Influential Block Chain News Media".