Cryptocurrencies
DeFi Platform MakerDAO Rebrands Itself as Sky to Bolster Usage
- The project wants to appeal to mainstream users with rewards
- The lending project will launch two new tokens on Sept. 18
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MakerDAO, one of the best known and oldest decentralized finance applications, will be called Sky under a rebranding effort seeking to bolster usage of the crypto lending platform.
Rune Christensen launched MakerDAO in 2014, making it one of the earliest apps in DeFi, where users can trade, lend and borrow directly from each other, without using intermediaries like banks. The lending app gained a following among the earliest crypto adopters, known as OGs, or original gangsters. In recent years, even banks such as Societe Generale and Huntington Valley Bank used it to test the DeFi waters. And MakerDAO made waves with investments in US Treasuries.