Sky Finalizes MKR to SKY Token Upgrade: Transitioning to Staking and Enhanced Buybacks

Sky has finalized its transition from MKR to the new SKY token, led by Atlas Axis, with the aim of enhancing protocol income distribution. This migration is expected to take place between May 15-19, 2025. 14% of MKR has already transitioned, and the proposal introduces staking functionality. This change could boost financial stability through increased SKY buybacks and incentivized staking rewards for holders.