MakerDAO, a DeFi lending protocol, recently announced a rebranding to
Sky, unveiling a new stablecoin (USDS) and governance token (SKY). The rebranding comes as the protocol attempts to offboard wrapped Bitcoin (WBTC) following a governance vote, a move that signals an innovative step towards decentralisation. The market has reacted with speculation, as Maker's price has dipped, prompting predictions of further drops. Nevertheless, high-profile crypto asset manager
Grayscale has launched an investment fund focused on MakerDAO's original coin, MKR. This development could potentially offset any negative market sentiment from the rebranding. In contrast, MakerDAO's choice to equip its new USDS stablecoin with a remote freeze function has raised controversy within the cryptocurrency community due to privacy concerns. Amidst the changes, it's been leaked that
MakerDAO is gearing up for a competition over tokenized US treasury investment of $1B. However, MakerDAO's rebranding has not repositioned it completely out of loaded spaces, with market makers allegedly manipulating a significant number of new crypto listings, thus contributing to the memecoin craze.
Maker Coin News Analytics from Wed, 10 Jan 2024 08:00:00 GMT to Tue, 24 Sep 2024 21:00:00 GMT -
Rating 2
- Innovation 5
- Information 8
- Rumor -2
