Sky Soars on Stablecoin Narrative and DeFi Buzz

Sky (SKY) has surged 3.7% over the past day due to ongoing structural catalysts and renewed attention in DeFi and stablecoins, rather than a single new event.

The recent major shift from MakerDAO to Sky Protocol supports higher valuations for SKY over time, driven by key drivers such as the full migration of MakerDAO to the Sky ecosystem with a focus on the USDS stablecoin and SKY as the core governance token.

Sky's 'Stage 2 framework' directs 5% of net protocol surplus every settlement cycle to buy and burn SKY, ensuring a fixed supply and no future large unlock overhang. This design is anchored by the MakerDAO to Sky transition.