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**Sky Ecosystem Aims to Revolutionize DeFi by Replacing Maker with Sky Token**
The decentralized finance (DeFi) sector is set for a significant upgrade as the Sky ecosystem, formerly known as MakerDAO, announces its plan to replace the MKR governance token with the SKY token. This monumental shift aims to increase efficiency and benefits for token holders through enhanced governance and staking opportunities.
In an official statement made on May 1, 2025, Atlas Axis initiated the proposal to finalize the transition from MKR to SKY. Rune Christensen, co-founder of Sky, has been instrumental in promoting this upgrade. His vision aligns with the goal of creating a zero-fixed-cost protocol by the end of 2025.
The elimination of the MKR token will have far-reaching implications for the DeFi space. The Sky ecosystem’s centralization of governance within its own protocol will revolutionize the way decentralized finance operates. This change is expected to maximize efficiency and create more rewards through SKY governance and staking, ultimately driving long-term sustainability and engaging a broader audience in DeFi activities.
As Rune Christensen emphasized, “I fully support the proposal from Atlas Axis to finalize the upgrade from MKR to SKY… Getting past this full upgrade of MKR to SKY is one of the last pieces missing before Sky can transition to zero fixed costs at the end of 2025.”
**A New Era for DeFi**
This rebranding exercise, similar to that seen in projects like Synthetix SNX v3, often precedes market volatility and enhanced protocol decentralization. In light of these trends, experts from Kanalcoin predict the Sky upgrade will bring improved governance and staking effectiveness.
**Disclaimer**
Please be advised that any information published on Kanalcoin is intended to enrich knowledge but should not be considered investment advice. Trading in cryptocurrencies involves risk, and it’s essential to conduct thorough research before making an investment decision.
**Author:** Akinyemi
Source: https://www.kanalcoin.com/sky-ecosystem-replace-maker-token/
