Most $MKR holders still don't know their token is now $SKY
If you search $MKR price today, you'll see sub-$0.10 instead of $2,000+. Did it crash 99.99%? No. It's a rebrand + redenomination.
Here's what actually happened:
August 2024: MakerDAO became Sky Protocol. $MKR upgraded to $SKY at 1:24,000 ratio. $DAI became $USDS 1:1.
The math that matters:
$SKY at $0.093 × 24,000 = $2,232 per $MKR equivalent
Supply check: ~977K $MKR × 24,000 = ~23.4B $SKY total supply. Market cap transferred 1:1. No value lost.
$SKY is trading ~8% below ATH ($0.1014). In $MKR terms, that's above $2,200.
Still holding $MKR?
Full-value upgrade window closed Sept 2025. Late upgrades now face quarterly-increasing penalties. The longer you wait, the less $SKY you get.
Most exchanges auto-converted. Check your balance.
Only use official Sky upgrade portal. Scam sites are targeting confused holders.
The dumbest take floating around:
"$SKY is under $0.10, it can 100x"
No. $SKY has a $2.17B market cap. A 100x = $217B, bigger than most of crypto. Price per token means nothing. Market cap is everything.
Don't get rekt by unit bias. $SKY at $0.093 = $2,232 per $MKR. It's not cheap. It's the same asset with more zeros.
DYOR
If you search $MKR price today, you'll see sub-$0.10 instead of $2,000+. Did it crash 99.99%? No. It's a rebrand + redenomination.
Here's what actually happened:
August 2024: MakerDAO became Sky Protocol. $MKR upgraded to $SKY at 1:24,000 ratio. $DAI became $USDS 1:1.
The math that matters:
$SKY at $0.093 × 24,000 = $2,232 per $MKR equivalent
Supply check: ~977K $MKR × 24,000 = ~23.4B $SKY total supply. Market cap transferred 1:1. No value lost.
$SKY is trading ~8% below ATH ($0.1014). In $MKR terms, that's above $2,200.
Still holding $MKR?
Full-value upgrade window closed Sept 2025. Late upgrades now face quarterly-increasing penalties. The longer you wait, the less $SKY you get.
Most exchanges auto-converted. Check your balance.
Only use official Sky upgrade portal. Scam sites are targeting confused holders.
The dumbest take floating around:
"$SKY is under $0.10, it can 100x"
No. $SKY has a $2.17B market cap. A 100x = $217B, bigger than most of crypto. Price per token means nothing. Market cap is everything.
Don't get rekt by unit bias. $SKY at $0.093 = $2,232 per $MKR. It's not cheap. It's the same asset with more zeros.
DYOR
