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Sky (SKY) price today

SKY is the governance token of the Sky protocol, formerly MakerDAO, which is responsible for the USDS and DAI stablecoins.

Written and reviewed by the Cripto View editorial team

Sky price now

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Market data source: CoinGecko, with a reference USD/BRL rate. Values can lag by a few minutes.

What is Sky?

MakerDAO, one of the oldest protocols in decentralized finance, rebranded to Sky in 2024. In that transition, the MKR governance token began converting into SKY at a rate of 1 MKR to 24,000 SKY.

SKY holders vote on the rules that define how the protocol's stablecoins are issued and collateralized.

How Sky works

Governance decides parameters such as accepted collateral, the fees charged to those who issue stablecoins and the savings rate paid to depositors. Those decisions determine protocol revenue.

Part of that revenue is used for SKY buybacks, and holders can stake the token to receive rewards and exercise their vote.

What SKY is used for

  • Voting in Sky protocol governance.
  • Staking with rewards set by governance.
  • Exposure to revenue generated by the USDS and DAI stablecoins.

Risks and points of attention

  • Its value depends on the health of the protocol's stablecoins and the quality of the collateral.
  • Voting power concentrated in a few large holders.
  • Frequent changes of brand and structure confused part of the user base.
  • Smart contract risk and regulatory risk around decentralized stablecoins.

Key facts

SymbolSKY
Asset typeToken
Launch2024
NetworkToken on Ethereum

Reference data checked on October 3, 2026 against CoinGecko and the project's official pages.

Frequently asked questions about Sky

Are SKY and MKR the same token?

SKY is the successor to MKR. Conversion is done at 1 MKR to 24,000 SKY through the protocol itself.

What is the difference between SKY and USDS?

USDS is the stablecoin, which aims to be worth 1 dollar. SKY is the governance token, with a free-floating price.

What changed from MakerDAO to Sky?

The brand, the tokens (DAI gained the USDS version and MKR became SKY) and the organization of the ecosystem into semi-autonomous projects.

Where does the Sky price on this page come from?

The panel shows the SKY price in US dollars and Brazilian reais, with change, volume and market capitalization. Data comes from CoinGecko, uses a reference exchange rate and can lag by a few minutes.