On October 22, the Sky Protocol project announced that it is considering reverting to its original name, MakerDAO, after just two months of operating under the new brand. Rune Christensen, co-founder of Sky Protocol, stated that the project is evaluating the change based on community feedback, which indicated confusion over the recent rebrand and the role of the project’s tokens.
In August, Sky Protocol launched the USDS stablecoin, which Rune Christensen described as a success. However, the DeFi community has expressed continued attachment to the MakerDAO brand and a desire for clarity. Christensen acknowledged that the rebranding had affected the project’s stability and scale, which prompted the current reassessment.
To address the situation, three potential directions were outlined:
- Keep Sky Protocol as the core brand to build on recent momentum.
- Revert to MakerDAO, restoring MKR’s role as the primary governance token.
- Reposition MakerDAO with a fresh, modern identity aligned with the USDS stablecoin.
A Community Call will be held on October 25 to gather opinions, followed by an Atlas Edit proposal on October 28. If approved, a governance vote on the future of the MakerDAO brand and related tokenomics will take place on November 4.
MakerDAO, originally known for its decentralized stablecoin DAI, rebranded to Sky Protocol in August 2024. Along with the rebrand, DAI holders were given the option to upgrade to a new stablecoin, USDS (Sky Dollar), at a 1:1 ratio.
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