Sky

SKY is the governance token of Sky Protocol, a decentralized finance application that launched in 2024 as a rebrand and upgrade of the older Maker Protocol. The protocol is designed for people who want to save, earn rewards, and move funds across blockchains without handing control of their money to a central company or intermediary. Its core product is USDS, a decentralized stablecoin pegged to one US dollar, and SKY exists to let its global community of holders vote on how the protocol evolves.

Sky Protocol runs entirely on smart contracts deployed within the Ethereum ecosystem, meaning automated code enforces its rules without a central operator. SKY token holders can stake their tokens in the protocol's Staking Engine, which entitles them to participate in governance decisions and earn rewards distributed by the protocol. The protocol also uses a component called SkyLink to move user funds across different blockchains, aiming to reduce transaction costs and delays.

The data provided does not include a fee revenue stream for Sky Protocol, so fee-based measures such as fee yield or protocol revenue are not available on this page. What is known from the stored figures is that nearly all of the token supply is already in circulation: 99.85% of the maximum supply of 23,462,665,147.3 SKY tokens has been issued as of the point-in-time measurement, leaving a dilution overhang of only 0.154354% of supply not yet issued. The fully diluted valuation is therefore almost identical to the current market capitalization of approximately 1,606,878,438 USD, with an FDV-to-market-cap ratio of 1.001544.