Sky Considers Rebranding Back to Maker

By Philip Maina

1 week agoTue Oct 22 2024 10:19:26

Checking out Time: 2 minutes

• DeFi platform Sky’s neighborhood is thinking about returning to the Maker brand name
• The neighborhood believes that the transfer to Sky produced confusion in the market resulting in unfavorable beliefs
• Maker rebranded to Sky in August

2 months after rebranding from Maker to Sky, the DeFi platform’s neighborhood is thinking about going back to the initial brand name. The neighborhood thinks that the rebrand produced confusion resulting in decreased uptake of the DeFi network. A proposition by Sky’s cofounder Rune Christensen lays out 3 courses that the task can follow to solve the confusion and the unfavorable feedback, suggesting that even the task’s group acknowledges that the rebrand didn’t go as anticipated.

2 of the Three Options Involve Going back to Maker

According to Christensen, the neighborhood can select to “continue with Sky as the core brand name […] recenter the Maker brand name with its initial identity [or] recenter the Maker brand name with a rejuvenated brand name identity.”

The 2nd alternative focuses on going back to the initial Maker brand name and restoring the procedure’s base token, MKR, as the only governance token of Maker DAO. The 3rd choice includes going back to the initial brand name however making some modifications to line up with other items in the Sky community such as “USDS and the StarDAOs.”

Some who have actually talked about Christensen’s proposition have actually kept in mind that returning to “the initial MKR token would be the easiest method.” Others, nevertheless, believe that rebranding back to Maker is a “action back” from the initial strategy to relocate to Sky.

Sky’s Governance Model Questioned

Others have actually questioned the DeFi procedure’s existing governance design that depends on delegates. According to them, it would be much better to return governance powers to the bigger neighborhood of MKR holders for a well balanced viewpoint on whether to rebrand back to Maker.

The Sky co-founder divulged that he will carry out a neighborhood contact Friday, October 25 with a governance survey arranged for early next month. The rebrand to Sky has actually triggered the MKR token to shed near 50% of its worth considering that August.

With 2 of the 3 courses including going back to the Maker brand name, it’s most likely that Sky might quickly be rebranded back to Maker.

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