A new governance proposal has been submitted to finalize the upgrade from MKR to SKY.

It would enable SKY Staking, activating USDS rewards for SKY holders. If approved, this could be one of the final steps toward a transition to zero fixed costs by the end of 2025 directing protocol income to Staking Rewards and Buybacks.

If passed, the proposal also includes:

• Transferring governance to SKY voting.

• Disabling MKR → SKY downgrades.

• Introducing time-based upgrade penalties.