Sky Protocol Launches SKY Token on Optimism

• Sky Protocol launches SKY token on Optimism to unlock faster, cheaper DeFi interactions across the Superchain ecosystem.
• SKY token enables staking rewards and full governance after replacing MKR in the Sky DAO migration proposal.

Sky Protocol’s native token, SKY, is officially live on the Optimism network, a move that has immediately caught the attention of many crypto users. By joining the Superchain ecosystem, SKY is not only seeking technical convenience, but also broadening the stage for their ambitious vision of building a more efficient and inclusive crypto-based financial system.

So far, Sky Protocol’s performance has attracted attention through the success of their increasingly dominant USDS stablecoin. According to the CNF report in early March, the supply of USDS had reached 9 billion in just the first two months of 2025.

In fact, this amount managed to surpass DAI—which was previously quite established—and made USDS one of the most prominent stablecoins in terms of circulation. This is where Sky’s role becomes more serious: not just an alternative project, but a major challenger to legacy DeFi protocols.

Sky is now live on @Optimism.

Transparent. High-performing. Resilient.
Savings on the Superchain. pic.twitter.com/fAEJ6KVvnR

— Sky (@SkyEcosystem) June 23, 2025

Stronger Rules, One Token: Sky DAO Locks in Governance Shift

On the other hand, on May 1, they officially submitted a proposal to completely replace the MKR token with SKY as the sole governance token. That means MKR holders were given a migration deadline of May 15-19, with the promise of a 50% share of the protocol’s revenue for anyone who staked SKY.

However, there is a delay penalty for those who delay, which will come into effect on September 18, 2025. So, this is not an offer that can be ignored.

Furthermore, Sky DAO continues to push for strengthening its internal structure. In early June, they approved the “Atlas Edit Weekly Cycle” proposal, a regular update that is quite dense: increased risk capital requirements, stricter handling of violations, and of course, strengthening SKY’s position as the sole governance token.

If you imagine it, this is like upgrading the operational system of a traditional company that still uses spreadsheets to an automated ERP platform—everything is clearer, more disciplined, and measurable.

Optimism Unlocks New Momentum for Sky Protocol Adoption

Beyond governance matters, the launch on Optimism also introduces SKY to a faster and cheaper distribution channel. Optimism is not just a Layer-2 network, but part of the Superchain—a new ecosystem that supports many connected projects at low costs.

For users, this means lighter transactions on the wallet, while for protocols like Sky, it opens up a wider market potential. Like street vendors who can finally open branches in shopping malls, their exposure immediately skyrocketed.

Amid the euphoria of this launch, the transaction volume of the SKY token also soared. In a short time, daily trading activity reached more than $11 million. The price of SKY was pushed up 19.5% to $0.084, although this movement cannot be viewed only from a speculative perspective.

Many users are starting to see SKY as a token that has a real function—not just being traded, but also being locked to get a share of the protocol’s revenue.

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