MakerDAO rebrands to Sky and launches USDS, a parallel stablecoin convertible 1:1 with DAI

Sky (formerly MakerDAO)/USDS

MakerDAO completed its rebranding to Sky on August 27, 2024, launching USDS alongside SKY governance token and sUSDS yield mechanism. USDS is convertible 1:1 with existing DAI through the Upgrade Hub, with no conversion fee. The rebrand executes the first phase of Rune Christensen's Endgame restructuring plan published in May 2022.