Sky Proposes a Major Governance Shift: Replacing MKR with SKY Token

Sky is proposing a significant change to its governance structure, moving away from the existing MKR token and implementing a new system based on the SKY token. This transition aims to achieve a zero-cost operational model by the end of 2025. The proposed change involves exchanging existing MKR holdings at a ratio of 1:24,000 for new SKY tokens. This pivotal decision is expected to impact how Sky operates and incentivizes governance participation.