Sky rebuilds Maker DAI and RWA yield economics around USDS and SKY governance, but durability depends on collateral quality, savings rate funding, and stable conversion incentives.
Investment View
Investors should assess Sky USDS adoption, RWA yield, collateral risk, governance concentration, and MKR to SKY conversion terms over the rebrand.
Previous Versions
Sky is evolving from MakerDAO's stablecoin based DeFi system into a savings oriented dollar network. Supply, earnings, and governance execution are strong, while off chain collateral, regulatory perception, and brand transition remain maturity risks.
Investment View
Review Sky through USDS growth, earnings, governance transition, off chain collateral, and regulatory risk.