The holders of MKR -Tokens rush to trade to the new assets of Sky protocol. From September 22, holders of the old token fines will start making.
Holders of the Legacy MKR -Tokens rush to exchange them for the new Sky protocol activa. From 22 September a fine of 1% applies to MKR -Swaps, which increases by one percentage point every month. The proposal has set all the details and is now due to the community to enforce the decision.
The mood to implement the delayed upgrade fine for upgrading MKR to Sky is live.
As part of the current MKR to Sky Upgrade process, the Sky Atlas indicates that the executive voice of September 18, 2025 will determine the delayed upgrade fine for the new MKR to Sky Conversion … pic.twitter.com/1FMTQ3GY6A
– Sky (@skyecosystem) September 18, 2025
The protocol has announced the delayed fine on its Mkrupgrade center. For now, even with the punishment, the token remains functional.
Sky Protocol still has no strict deadline when exchanging MKR
Sky Protocol did not have a hard deadline for exchanging MKR tokens, and the Legacy Asset remains years after the rebranding transactions and actions. About 82% of the MKR has been converted into Sky, but about 176,088 MKR tokens remain. MKR is still acting at $ 1,808.37, with $ 3.34 million in daily volumes.
Earlier, MKR was the key to creating DAI -Tokens, but was replaced by other collateral and mint mechanisms. About $ 318 million is locked in the old version of the token.
Sky traded at $ 0.0775, near the middle of its reach for the past year. Sky protocol is one of the apps that benefit from a return to Defi, although the project lost its leading position as the largest Stablecoin producer.
Sky Protocol still managed to survive a long -term bear market and to remain relatively intact from the bankruptcies of other protocols.
Swaps from MKR recently accelerated, while the new platform expanded its activity. However, some traders also exchanged MKR in April to use the remaining price action of the token.
Swaps accelerated from MKR to Sky, while some protocols have upgraded their possession. MKR owners still have more than 170k MKR, which may result in more than $ 3 million in late swap sentences. | Source: Dune Analytics
Part of the SWAP retrieves can be due to the MKR/Sky discount or premiumBased on the difference of the implicit or actual price of the air.
Sky Protocol will beat MKR penalty
In anticipation of the penalty deadline, Binance already stopped the MKR -Ticker after his deletion on September 15. Binance will automatically exchange all MKR in Sky before he makes the only remaining ticker again.
A rough estimate suggests that about 170k MKR will not be changed on time. Some of the MKR are in centralized protocols too exchanged automatic. Each remaining MKR can pay at least 3 million in Late costs in Sky protocol.
The recent Swaps ended the maker’s era and stimulated the use of heaven for turning off and other rewards. The Sky Ecosystem is now more conservative, with a 4.75% Savings percentage, a peak of more than 12%.
The protocol has also completely renamed DAI to USDS, while retaining the range of 5.6b tokens. Currently, the Sky Ecosystem has locked more than $ 17 billion in total value, aimed at more sustainable yield. Sky Protocol is wearing several collateral of other Defi projects, aimed at a minimum percentage of the risk.
