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About Sky
Sky is the rebranded continuation of MakerDAO, the longest-running decentralized stablecoin protocol. SKY is its governance token, the successor to MKR, used to steer collateral policy and risk parameters.
How Sky Works
The protocol issues USDS against collateral deposited into it, with everything from collateral types to risk settings decided by token-holder vote rather than a company. Governance also sets the rate paid to holders who lock the stablecoin, which is how the protocol competes for deposits.
The History of Sky
MakerDAO launched DAI in 2017, surviving multiple market crashes including the March 2020 collapse that stress-tested its liquidation system. In 2024 it rebranded to Sky and introduced SKY alongside USDS, with MKR convertible to SKY. It has progressively added tokenized real-world assets to its collateral base.
What SKY Is Used For
SKY votes on collateral onboarding, risk parameters, rates and treasury spending. It also acts as the protocol's recapitalisation mechanism: if collateral shortfalls occur, new tokens can be issued to cover them, which aligns holders with prudent risk management.
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Why buy Sky with YouHodler? +
YouHodler combines advanced security and encryption with a simple way to buy and sell SKY, fast crypto transactions, support for multiple fiat currencies, and a platform that works for newcomers and experienced traders alike.
Is Sky a good investment? +
Sky governs the oldest and most tested decentralized stablecoin system, with a track record through several severe market events. Its shift towards tokenized real-world collateral adds counterparty exposure, and the rebrand from MKR was contentious among long-time holders. SKY is volatile — research the current collateral mix before investing.
Can I buy Sky today and sell it tomorrow? +
Yes. YouHodler supports selling as well as buying, so you can acquire SKY and later exchange it for fiat currencies such as USD or EUR. Transactions settle quickly, major fiat currencies are supported, and withdrawals go out by bank transfer.
Is it safe to buy Sky? +
Buying SKY is generally safe on a reliable platform like YouHodler, which applies data encryption, identity verification and multi-layer account protection. The asset itself stays highly volatile, so prices can move sharply over short periods.
How do I convert Sky to cash? +
Connect a bank account, debit card or credit card to your YouHodler profile, exchange your SKY for a fiat currency such as USD or EUR, then withdraw the balance straight to your bank.
How much is $100 worth of Sky right now? +
That depends on the live SKY price, which moves constantly. Use the price chart on this page to see the current rate and work out exactly how much SKY $100 buys at this moment.
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