Sky
Sky, formerly MakerDAO, issues the USDS and DAI stablecoins against crypto and real-world collateral.
Sky TVL
Assets deposited in Sky across Ethereum, in US dollars.
Supported chains
Sky runs only on Ethereum.
Fees & revenue
Monthly fees paid by users and the share Sky keeps as revenue. The current month is to date.
About Sky
What it does, how it earns and what the SKY token is for.
Sky is a decentralized finance protocol built around the USDS stablecoin, which is designed to always be worth one US dollar. People mint that stablecoin by putting up collateral, and savers earn the Sky Savings Rate. In 2024, the older Maker Protocol was rebranded and upgraded into Sky Protocol.
It runs on automated agreements called smart contracts, so no middleman controls users' money. As of 2026, all deposits are made on Ethereum. SKY is the protocol's governance token: holders vote on major system changes, and by locking tokens in the Staking Engine they help keep the network secure, receive rewards and can borrow USDS.
Sky FAQ
Short answers to what people ask most.
Sky has no chief executive or a conventional investor team. It is run by SKY holders around the world as a community.
Borrowers pay a stability fee.
Protocol revenue funds projects in the Sky ecosystem.
Sky news
Coverage of the protocol, its category and its chain.
Similar protocols
The largest DeFi protocols by value locked.
