- Sky (formerly MakerDAO) founder Rune Christensen has suggested further changes to the project’s brand.
- The proposal comes in response to community feedback.
- The proposed changes include the possibility of reverting to the original MakerDAO branding.
To improve accessibility, governance, and resilience, the leading decentralized lending protocol MakerDAO recently underwent a symbolic and technical overhaul, rebranding as Sky. Barely two months after the rebranding, however, the project now appears to be reconsidering the change amid community feedback.
Will Sky revert to Maker?
Too Much Too Fast?
Sky (formerly MakerDAO) founder Rune Christensen has suggested further changes to the project’s brand, including the possibility of reverting to the Maker brand.
Sponsored
In a forum post on Monday, October 21, responding to criticism of the Sky rebranding, Christensen conceded that the project may have changed too fast.
Beyond changing the project’s name, the rebranding introduced a new website and two new tokens, SKY and USDS, as upgrades to its governance token MKR and decentralized stablecoin DAI. At the same time, SKY came with a new tokenomics model and new reward systems.
According to Christensen, all these changes may have been admittedly “hard to follow.” Highlighting the unwillingness of some to upgrade their tokens, the founder also noted a significant attachment to the Maker brand and what it had come to represent as one of the oldest players in DeFi.
"It is also now more clear than ever just how much the DeFi community loves and trusts the Maker brand," Christensen wrote.
As such, Christensen suggested potential next steps for the project, taking into consideration community feedback.
Three Paths Forward
In the Monday forum post, the Sky founder specifically suggested three potential paths forward. The first is to continue with the new status quo. Conversely, Christensen suggested that the project could revert to Maker and reinstate MKR as the sole governance token of the DAO. Finally, the Sky founder suggested reverting to the Maker brand but making adjustments to align with the new vision.
The community will hold a call on October 25 to incorporate more feedback, with a vote on the options likely on November 4.
On the Flipside
- The rebranding has not been a complete dud, as USDS exceeded a total supply of 1 billion within the first two weeks of its launch.
- The community has yet to reach a decision.
Why This Matters
Sky’s recent concerns highlight the delicate balancing act crypto projects must execute to evolve to cater to a broader audience without alienating their existing users.
Read this for more on Sky’s rebranding:
Here’s What MakerDAO’s Rebrand to Sky Changes and Why
See how GT Protocol has improved its features:
GT Protocol Bolsters Accessibility with Advanced AI Assistant Features
