MakerDAO has implemented changes to Sky’s governance as part of its ongoing Endgame transition. Read the full analysis.
Frequently Asked Questions
Here is a list of FAQs about MakerDAOs governance changes for Sky as part of the Endgame transition
BeginnerLevel Questions
1 What is the Endgame transition
Its MakerDAOs longterm plan to scale up become more decentralized and make the system more resilient The launch of Sky is a major milestone in that plan
2 What is Sky Is it a new company
No its a new brand and a new set of products built on top of the existing Maker protocol Think of it as an upgrade or a new front door to the same system
3 What exactly is changing with the governance
The biggest change is the introduction of SubDAOs Instead of one giant group voting on everything smaller specialized groups will handle specific tasks like managing new collateral or launching new features
4 Do I need to do anything with my MKR tokens
Not immediately The core MKR token still exists and holds power over the entire system However a new token called SKY was introduced You can swap 1 MKR for 24000 SKY tokens if you want to participate in the new SubDAO governance
5 Why would I want to use the new Sky system instead of the old one
The goal is to make it simpler and more userfriendly Sky offers a new stablecoin and a savings rate that aims to be easier to understand and use than the classic DAI and DSR
Intermediate Advanced Questions
6 What are SubDAOs and how do they work
SubDAOs are semiautonomous organizations that will manage specific stars They have their own tokens treasuries and governance They operate within the rules set by the main MakerDAO but can make faster more specialized decisions
7 What is the difference between DAI and the new USDS
DAI will continue to exist and function exactly as it does now USDS is a new separate stablecoin that is functionally identical to DAI but is designed to be the primary token within the Sky ecosystem You can upgrade DAI to USDS and back again freely