From DAI to USDS.

After more than 2 years of meticulous work by the ecosystem, Sky is here! MakerDAO is now Sky, and the long anticipated upgrades to the protocol and ecosystem - known by the codename Endgame - are now coming to life.

Decentralized Finance is at an inflection point. The industry has successfully matured and scaled and, with the right push, is poised to begin providing large scale value to regular people. By focusing on delivering innovative ways for everyday users to unlock the inherent benefits of DeFi, Sky will do its part in bringing the benefits of DeFi to the mass market.

With Sky, the Maker Protocol has used its decentralized governance processes to upgrade and extend itself:

• Two upgraded tokens: USDS and SKY
• A new website and DeFi app: Sky.money (maintained by an independent entity)
• Brand new killer feature: Native Token Rewards
• Ecosystem scalability breakthrough: Stars (Formerly known as SubDAOs) are small, specialized, decentralized ecosystems within the broader Sky Ecosystem.

Key Details on DAI and USDS:

• Rebranding & Upgrade: MakerDAO rebranded to Sky in late 2024., moving from DAI to USDS to modernize access and scalability.
• 1:1 Conversion: DAI and USDS are interchangeable, with a 1:1 conversion mechanism.
• Functionality: Both are decentralized, USD-pegged stablecoins. USDS is designed for native rewards and integration within the new Sky ecosystem.
• DAI Status: While USDS is the new flagship, DAI is not immediately discontinued but is gradually being replaced.
• Exchange Activity: Major exchanges are migrating from DAI to USDS. For example, Binance is swapping user holdings and listing USDS in 2026.