The token migration of Sky enters his last piece, with Balancer MKR holders warning that they will only have days left to exchange the air.
Summary
- Balancer set up a deadline of 18 September for MKR holders to migrate to Sky, the new management of the Sky Ecosystem.
- Penalties of 1% heaven per MKR start on September 22 when the board approves, so that it escalates quarter to push timely migration.
- Tracks and liquidity pools, including Binance and Balancer’s new recessed pool, are tuned to support the transition.
Balancer has published a definitive memory of Sky’s (formerly Makerdao) community. MKR holders have until 18 September to migrate their tokens to heaven, the management of the Rebranded Sky Ecosystem or to run the risk of penalties.
In a detailed X wireThe decentralized exchange announced the update on September 13, and emphasized his role as an old supplier of MKR-Liquidity. Balancer now supports the transition to a new V3 -backlag pool designed for Sky (Sky) liquidity.
With the approval of the governance, fines can already be implemented on 22 September. Late migrations would lead to a Sky deduction of 1%, with the amount that increases every three months.
Why the sky token migration matters
The switch from MKR to Sky is an important part of Makerdao’s “endgame” Rebranding, which was launched at the end of 2024 and modernizes the protocol with new Tokenomics, clearer governance and improved accessibility.
Sky consolidates governance power in a single token while he is in accordance with new mechanics such as placing rewards for USDS, the improved version of DAI (DAI).
To promote the participation of the retail trade and to improve liquidity, the display lowers the unit costs of administrative vessels by setting a fixed 1: 24,000 ratio. The penalty schedule is designed to speed up migration and to strengthen compliance with the Sky Ecosystem. It starts with a deduction of 1% and connections every three months to 100% over 25 years.
The display determines a fixed 1: 24,000 ratio, which reduces the unit costs of administrative sticks to encourage the participation of the stores and improve liquidity. The penalty schedule, starting with a deduction of 1% and every three months to 100% for 25 years, is designed to accelerate migration and to strengthen the dedication to the Sky Ecosystem.
Exchanges and protocols adapt
Exchanges have also started maintaining the transition. Binance, Kraken and Crypto.com have all suspended MKR -and have switched to automatic conversions to Sky, with futures -markets in MKR that swings for possible sky listings.
Balancer’s new Sky/Weth Reckamm Pool offers liquidity providers access to self-adjusting concentrated liquidity, a function that it describes as “Next-generation pool technology” for Sky’s new management model.
From the beginning of September, about 61% of MKR had been converted, so that almost 40% of the offer still had to migrate. With the Deadline days away, Balancer urges liquidity providers and holders to act quickly to prevent fines and to prepare for the next chapter of Sky
