Sky’s $75 Million Buyback Boosts SKY Token by 8% in Six Months

Sky, formerly known as Maker, has invested a significant sum of $75 million into a buyback program over the last six months. This initiative has resulted in an 8% increase in its SKY token price since February. Launched in late February 2025, this strategy employs USDS to repurchase SKY tokens, with August seeing the protocol allocating $5.5 million for a purchase of 73 million tokens. The buyback program has now totaled $75 million in USDS, reducing the circulating supply of SKY tokens and supporting its market value.