The holders of MKR tokens are rushing to swap to the new asset of Sky 0 September 22, holders of the old token will start to incur 1 of the legacy MKR tokens are rushing to swap them for the new Sky Protocol 2 September 22, a 1% penalty will apply to MKR swaps, rising every month by one percentage 3 proposal has settled all details and is now down to the community vote to enforce the 4 vote to implement the Delayed Upgrade Penalty for upgrading MKR to SKY is 5 part of the ongoing MKR to SKY Upgrade process, the Sky Atlas specifies that the September 18, 2025 Executive Vote will set the Delayed Upgrade Penalty for the new MKR to SKY conversion… 6 — Sky (@SkyEcosystem) September 18, 2025 The protocol has announced the delayed penalty on its MKR upgrade 7 now, even with the penalty, the token will remain 8 Protocol still has no strict deadline on swapping MKR Sky Protocol did not have a hard deadline on swapping MKR tokens, and the legacy asset continues to transact and trade for years after the 9 82% of MKR has been converted to SKY, but around 176,088 MKR tokens 10 still trades at $1,808.37, with $3.34M in daily volumes.
Previously, MKR was key in the creation of DAI tokens, but was replaced by other collaterals and minting 11 $318M is locked in the old version of the 12 traded at $0.0775, near the middle of its range for the past 13 Protocol is among the apps to benefit from a return to DeFi, though the project lost its leading position as the biggest stablecoin 14 Protocol still managed to survive a prolonged bear market and remain relatively unscathed from the bankruptcies of other protocols. Recently, swaps of MKR accelerated, as the new platform expanded its activity. However, some traders have also swapped back into MKR in April, to make use of the token’s remnant price 15 from MKR to SKY accelerated, as some protocols upgraded their 16 owners still hold over 170K MKR, potentially incurring over $3M in late swap penalties. |
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