The poll to finalize the upgrade from MKR to SKY has been approved.
The proposal lays out a plan to:
• Define the process to upgrade the governance token of the Sky Protocol from MKR to SKY.
• Disable SKY-to-MKR conversion in the existing converter.
• Deploy a new contract allowing MKR to SKY conversion at 1:24,000 with an adjustable penalty.
• Enable SKY as the governance token of the Sky Ecosystem Governance.
• Launch SKY staking with new collateral parameters and USDS rewards.
• And other key changes required to complete the upgrade from MKR to SKY.
As the final step in the voting cycle, this proposal will be included in an upcoming Executive Vote. If approved, it will authorize the required deployments.
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