SKY surges as USDS rewards go live for stakers

The Sky Protocol governance token has experienced a significant increase in prices in the past 24 hours, increasing by more than 8% while awards for the token for the token were online.

The Sky (Sky) token, which has recently become the only governance token of the sky ecosystem protocol after a brand change Maker (Mkr), classified among the main winners as the price increased to peaks of $ 0.073. An important part of the gains for Sky occurred in the middle of the announcement of the decentralized financing platform that awards of jealking with the Stablecoin USDS was now live for the Sky stakers.

The sky went from $ 0.065 to exceed $ 0.073, recovering most of the losses observed when the Altcoin plunged alongside the larger market on May 29.

Sky’s cleansing is put online after approval of the token to become the only governance token on the protocol on May 19. Users must upgrade their MKR tokens in order to take advantage of features such as continuing to participate in governance and staking To get rewards on their Sky tokens.

With the launch of USDS awards for Sky Slake, holders can now gain depending on the performance of the Sky protocol. In this case, holders can earn half of the USDS excessive income.

The Stablecoin USDS, formerly DAI, is the improved Sky Protocol token which is set to the US dollar. Network participants earn awards via Sky’s savings rate while keeping control of their assets.

MKR holders have the opportunity to upgrade and exchange their tokens for Sky, offered at a fixed rate of 1 MKR for 24,000 heaven. Sky Protocol will apply a temporal penalty from September 18, 2025, for users who have not upgraded by then. The MKR token exchanged $ 1,679.

Sky remains a main loan protocol DEFI despite its change of Maker brand. By data from ParadeThe total value locked in the protocol is currently $ 5.21 billion.