Identity Crisis: Sky Considers Rebranding Back to Maker

Sky, previously known as Maker, may soon undergo another rebranding, just two months after its last transformation. Rune Christensen, co-founder of Maker, has proposed to the community a potential return to the “Maker” name in response to feedback regarding the recent rebranding and the launch of the new USDS stablecoin.

USDS, which replaced DAI, quickly reached a total supply of 1 billion just two weeks after its launch. It has already been integrated into leading decentralized finance (DeFi) platforms such as Aave, Morpho, and Ethena, with plans to expand its reach to layer-2 networks and Solana.

Christensen’s proposal comes only eight weeks after the introduction of Sky. He outlined three potential paths forward for the protocol:

• 1. Maintain the “Sky” Brand: This option would continue with the current branding, which has gained some recognition since its launch.

• 2. Return to the “Maker” Brand: This approach would restore the Maker name and revert to using MKR as the sole governance token.

• 3. Hybrid Approach: This compromise would retain the Maker name while refreshing its identity to reflect the recent product launches, including USDS and the StarDAO ecosystem.

Christensen's proposal aims to address confusion stemming from the previous rebranding. Many users struggled to understand how the Sky token, a re-denomination of MKR, fit into the overall ecosystem. The introduction of Sky coincided with new features, leaving some community members puzzled, especially given that the “Sky” name was used for the token, protocol, and front-end.

In contrast, the Maker brand has established deep roots in the DeFi space, associated with stability and trust. Many users continue to hold MKR despite the option to transition to Sky.

The potential rebranding is part of a broader governance process, with community members scheduled to vote on the proposal starting November 4. A community call will take place on October 25 to gather additional input before the vote.

Community Reactions

Following the proposal, web3 developer Anon Builder expressed skepticism about abandoning the MakerDAO brand’s established equity. While he appreciates the significance of the Maker and DAI names, he questioned whether reverting to the original branding would be beneficial.

Conversely, community member Mason criticized the decision to rename DAI to USDS, arguing that DAI was one of the most recognizable names in the crypto space. He believes that transitioning to another “USDx” stablecoin makes it harder to stand out in an increasingly crowded market.