#SaylorBTCPurchase Sky proposed to penalize holders of Maker tokens who take too long to switch to SKY tokens while the DeFi protocol pushes to finalize its transition.
The decentralized finance (DeFi) lending platform Sky has presented a proposal to finalize its upgrade from Maker, replacing its governance token and enabling staking.
The proposal, published on May 1 in the Sky Decentralized Autonomous Organization (DAO) forum, would involve the Sky token (SKY) replacing the Maker token (MKR) as the governance token of the protocol.
If the DAO approves, the change is scheduled to take place between May 15 and May 19, and the possibility of reverting from SKY to MKR will also be disabled.
Sky co-founder Rune Christensen stated in response to the proposal that it was a "huge milestone," which he "fully supports," and he regrets that allowing users to revert from SKY to MKR has been a "key limiting factor that has prevented exchanges from adopting SKY."
"With this change, exchanges are likely to move faster to adopt SKY without concerns about fragmenting liquidity," he claimed.
