The Sky Core Governance Team Atlas Axis submits a proposal to complete the upgrade of the Sky ecosystem from MKR to SKY, making SKY the sole governance token and enabling staking functionality. Sky was formerly known as Maker and will be renamed to Sky in 2024 through the 'Endgame' strategy, launching USDS (with a supply exceeding 7.5 billion USD) and the SKY token to replace DAI and MKR. MKR can be converted to SKY at a ratio of 1:24000, with a 1% fee applicable for conversions starting September 18, increasing by 1% every three months. Upon the proposal's approval, governance rights will be fully transferred to SKY, with the conversion expected to be completed between May 15 and 19 (depending on on-chain voting). (TheBlock)