/ Conviction Index / MakerDAO / Sky (MKR / USDS)

MakerDAO / Sky (MKR / USDS)

DeFi · Stablecoin · MKR · SKY · USDS · Launched Dec 2017
B+

Good (B+) — Conviction Grade

MakerDAO (rebranded Sky 2024) issues the DAI / USDS decentralized stablecoin. Rune Christensen's 'Endgame' restructuring has produced material protocol changes. T-Bill-backed reserves provide yield to USDS holders. Material governance disputes during Endgame transition.

83
Composite / 100
/ Subscore Breakdown · 5 Dimensions

Where this grade comes from.

Protocol Security
A-
Governance Decentralization
B
Liquidity
B+
Adoption & Utility
B+
Regulatory Posture
B
/ Public-Record Events

Key events & disclosures.

  • DAI launch Dec 2017
  • Endgame restructuring 2023-2024
  • MakerDAO → Sky rebrand 2024
  • DAI / USDS dual tokens

/ Best for

Decentralized stablecoin exposure; T-Bill-backed yield-bearing stablecoin (USDS Savings Rate).

/ Watch out for

Endgame transition has been governance-contentious. Verify your DAI / USDS / SKY position aligns with current protocol state.