Decentralized Finance (DEFI) Lending Platform Sky has set up a proposal to end its upgrading from the maker by changing the token of management and enabling staking.
The proposal, Na -Post On May 1 in the Decentralized Autonomous Organization (DAO) of the Sky, the Heaven's token (Heaven) will be seen to occupy the Maker (MKR) token as a protocol management token.
If the DAO accepts, the change will be made to take place around May 15 to May 19 and descending from heaven to MKR will not be enabled.
Sky co-founder Rune Christensen Says In response to this proposal is a “big milestone,” which he “fully supports,” and the mourning that allows users to fall from heaven back to MKR are a “key that limits the factor that prevents exchanges from the heaven's adoption.”
“In this change, the exchanges are likely to move faster to the fast -paced sky without concerns about the fracture of liquidity,” he said.
Penalties on MKR holders who are slow to move to the sky are also suggested.
According to the proposal, a 1% delayed upgrade penalty will be applied to all MKR upgrades to Sky since Sept. 18, rising every three months. Users who have been hit by a delayed upgrade penalty will also get fewer sky tokens.
Sky staking, temporarily paused in liquids
Chrisensen said the most important change is to see Sky Staking enabled as part of protocol changes.
Rewards for Decentralized Stablecoin, USDS, which are based on revenue consisting of Sky Protocol, will enable two or three weeks after upgrading the management contract, with a splitter rate of 50%, according to Christensen.
“MKR's entire upgrade to Sky is one of the last pieces missing before the Sky can move to 0 fixed costs by the end of 2025, which will ensure a greater portion of revenue consisting of protocol goes to the benefit of heaven's purchases, or staking rewards,” he said.
Sky Liquidations are temporarily disabled while the one-way MKR in Sky Transition is still in the early stages.
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“It is necessary to prevent the risk from manipulating the price of the sky and MKR prices as the transition occurs,” Christensen said.
“When liquidity is restored to the sky market, heaven management will lift the freezing of the extermination and move the risk parameters to long-term targets,” he added.
The manufacturer rebranded on Sky in August last year but after confusion and negative comments, Christensen considers to return to the original manufacturer's original name for just months.
However, a November Poll 79% of tokenholders voted to keep the SKY brand as a back end protocol brand without further change.
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