Sky Protocol, formerly known as Maker, has submitted a proposal to assist Hyperliquid in launching and managing its planned USDH stablecoin. This makes Sky the fifth crypto protocol to bid for a role in the stablecoin’s issuance. Co-founder Rune Christensen emphasized that Sky’s involvement would provide Hyperliquid with customizable token features and yields rivaling traditional US Treasury bills, claiming unbeatable advantages over other stablecoin projects. The proposal highlights the growing collaboration between DeFi protocols in the stablecoin space, aiming to enhance liquidity and yield opportunities for users.
about Sky Protocol Backs Hyperliquid's USDH Stablecoin LaunchRune Christensen
0 posts last weekSky Proposes Final MKR to SKY Token Migration
Sky has proposed the final steps to migrate its governance token from MKR to SKY, marking a significant shift in its decentralized finance ecosystem. The plan includes a fixed conversion rate of 1 MKR to 24,000 SKY, with penalties for late swaps starting September 18. A new smart contract will enforce the one-way migration, disable reversals, and introduce staking rewards tied to Sky’s stablecoin, USDS. Half of the protocol’s revenue will be distributed to SKY stakers, aligning with Sky’s goal of eliminating fixed costs by 2025. The proposal follows strong community support for the rebrand from Maker to Sky, with 79% backing the new identity in a November vote.
about Sky Proposes Final MKR to SKY Token MigrationMiden Raises $25M to Rival Solana with Privacy Tech
Miden, a zero-knowledge blockchain protocol, has raised $25 million in a funding round led by prominent investors including a16z crypto, 1kx, and Hack VC. The funding will support its mainnet launch, early adopter incentives, and team expansion. Miden aims to challenge Solana and Aptos by offering privacy-preserving transactions and plans a future airdrop for POL token holders. The protocol, now in its final alpha testnet phase, will integrate with Polygon’s AggLayer and targets institutional adoption with its privacy features. The raise reflects growing institutional interest in DeFi, with 24% already participating and 50% planning to engage within two years.
about Miden Raises $25M to Rival Solana with Privacy TechMiden Raises $25M to Rival Solana with Privacy Tech
Miden, a zero-knowledge blockchain protocol developed under Polygon Labs, has raised $25 million in a funding round led by prominent investors including a16z crypto, 1kx, and Hack VC. The capital will support Miden’s mainnet launch, early adopter incentives, and team expansion. The protocol aims to challenge Solana and Aptos by offering privacy-preserving transactions and plans a future airdrop for POL token holders. Miden’s technology enhances scalability and privacy through zero-knowledge rollups, making it attractive for institutional DeFi adoption. The protocol is in its final alpha testnet phase, with a mainnet launch expected later this year and integration with Polygon’s AggLayer. Additionally, Miden plans to allocate 10% of its native token supply to stakers and POL holders.
about Miden Raises $25M to Rival Solana with Privacy TechMiden Raises $25M Led by a16z for ZK Blockchain Scaling
Miden, a ZK-powered blockchain developed independently from Polygon Labs, has raised $25 million in a seed round led by a16z Crypto, with participation from notable investors like 1kx and Hack VC. The project focuses on high scalability by executing transactions on edge devices, enabling both public and private transactions with full privacy. Miden’s hybrid consensus model aims to address bottlenecks in traditional blockchains while maintaining decentralization. The funding will support development ahead of its mainnet launch in Q4 2025. Miden also plans to airdrop 10% of its native tokens to Polygon (POL) holders, positioning itself as a competitor to Solana, Sui, and Aptos. Co-founder Bobbin Threadbare emphasized that existing blockchains lack the privacy and scalability needed for mass adoption, making Miden’s infrastructure a potential catalyst for institutional entry.
about Miden Raises $25M Led by a16z for ZK Blockchain ScalingOpenOcean Supports Sky Ecosystem for Enhanced Trading on Ethereum and Base
OpenOcean has officially integrated support for the Sky Ecosystem on Ethereum and Base, enhancing trading opportunities for USDS, sUSDS, and USDC tokens. This move facilitates greater liquidity and efficiency, particularly on the Base network, which is designed to lower trading costs. As Sky, formerly MakerDAO, transitions to its new identity, MKR tokens will convert to SKY at a rate of 24,000 SKY per MKR, with plans for full migration by 2025.
about OpenOcean Supports Sky Ecosystem for Enhanced Trading on Ethereum and Base