Maker News

ETH prices have tanked more than 14%, causing liquidations on decentralized finance lending platforms.

Ethereum community members dismissed rumors of a $56 million transfer into lending protocol Sky from the Ethereum Foundation.

Rune Christensen, the co-founder of Sky, says the ultimate goal is to turn MKR into a wrapper that represents 24,000 SKY.

Sky’s (formerly MakerDAO) use of externally owned accounts (EOAs) to manage $756 million in USDC reserves raises questions about security and transparency.

Four MKR whales constituted 98% of the voting power in favor of sticking with the Sky rebrand.

DeFi firms have feared implementing “value accrual mechanisms” for their tokens under the SEC’s oversight — but that could change with president-elect Donald Trump.

Rune Christensen proposed a deflationary model for Sky, halting token emissions and aligning with MakerDAO’s original supply reduction vision.

Maker rebranded to Sky just two months ago as part of an overhaul, but there has been resistance. 

An Apollo Crypto report links DeFi resurgence to US Federal Reserve rate cuts, China’s credit expansion and improved DeFi infrastructure.

BA Labs, adviser to DeFi lender Sky, says concerns about Justin Sun’s role in Wrapped Bitcoin custody have been resolved with a new vote set for Oct. 3.

A “decentralized governance” body could decide the fate of frozen USDS if the stablecoin goes ahead with a freeze feature, says Sky co-founder Rune Christensen.

The plan would create markets for DAI-replacement USDS on Aave.

The majority of the stolen funds are accounted for by a major phishing incident that cost an unfortunate user $55 million.

Maker is also rebranding the world’s largest decentralized stablecoin ahead of the launch of its governance token, SKY.

The hacker’s use of Tornado Cash marks the first movement of the stolen Unizen funds since March, heightening security concerns.