About Sky

SKY is a governance token associated with the Sky Protocol, which was introduced in 2024 as a modernized iteration of the Maker Protocol. The Sky Protocol aims to provide users with a straightforward and secure platform for trading, saving, and earning rewards while maintaining full control over their funds. Central to this ecosystem is the USDS stablecoin, which is pegged to the US dollar and operates in a decentralized manner. The protocol leverages smart contracts to eliminate intermediaries, ensuring that users' assets are managed directly through automated agreements. The Sky Protocol operates on a dual-token model, utilizing USDS for stable savings and SKY for governance participation. Holders of SKY can engage in network security and earn rewards by staking their tokens within the Staking Engine, effectively locking them in a system that supports operational stability. This decentralized governance structure empowers the community of SKY token holders to influence critical decisions regarding the protocol's evolution. Additionally, staking SKY enables users to borrow USDS, reinforcing its role as a vital component for both governance and income generation within the Sky Protocol ecosystem.