Sky founder: Plans to propose additional proposals to change the core token to strict deflation

On October 31st, Sky (formerly MakerDAO) founder Rune Christensen announced plans to propose a supplementary proposal to change the core token (whether it is MKR or SKY) to a strict deflationary token economics. Under normal circumstances, tokens will no longer be issued, and with the destruction engine permanently removing tokens from circulation, the total supply will only decrease over time. The only exception is a shortage of collateral, which would put USDS and DAI at risk of bankruptcy. This is the original MKR token economics. In addition to the strict deflationary token economics of buying and destroying tokens, the core token (MKR or SKY) can still be rewarded with star-shaped tokens such as Spark SPK through activation.

Furthermore, if the vote results in keeping the Sky brand, the proposal will fully push the entire ecosystem to transition from MKR to SKY, and MKR will be renamed Wrapped 24k Sky Token (SKY24K); if the vote to reposition the Maker brand wins, Sky will transform into a Maker Star similar to Spark. The current SKY token will be changed to OLD_SKY and permanently exchanged for MKR at a fixed ratio of 1:24000.