The Sky Ecosystem is a decentralized financial infrastructure built around the USDS stablecoin and the SKY governance token. It is designed to enable permissionless and non-custodial access to DeFi products. The ecosystem allows users to trade tokens, earn rewards, and participate in governance without relinquishing control over their assets. Key features include Sky Token Rewards, the Sky Savings Rate (SSR), and a framework for decentralized governance.

The Sky Protocol, formerly known as Maker, powers the Sky Ecosystem, supporting the use of USDS and SKY tokens for financial transactions. It is non-custodial, ensuring users retain control over their assets. The protocol offers trading, saving, and rewards accumulation services. The protocol’s infrastructure includes permissionless pools, a stablecoin system, and governance, creating an open, transparent financial system.

SKY is the governance token of the Sky Ecosystem, replacing Maker’s MKR token at a rate of 1:24,000. It enables users to participate in decentralized governance, trade for USDS, and accumulate rewards through the Sky Token Rewards module. Holders of SKY can vote on protocol updates and changes, and it will also serve as the mechanism for earning Activation Token Rewards in the future.