Maker community considers rebranding back amid Sky confusion
The decentralised finance platform formerly known as Maker (CRYPTO:MKR), which rebranded to Sky (CRYPTO:SKY) in August, is reconsidering its recent name change after receiving mixed feedback.
The Sky community is evaluating whether to revert to its original Maker brand due to confusion and strong attachment to the previous identity.
On October 21, Sky co-founder Rune Christensen initiated a discussion on the platform’s governance forum, suggesting a return to the Maker brand.
According to Christensen, the rebrand to Sky brought some confusion over the roles of the Sky token and the enduring legacy of the Maker brand.
He noted that feedback shows a “strong affinity for the Maker brand” and trust in what it represents — particularly stability, security, and DeFi scalability.
“There was a lot of affinity for the brand and what it stands for,” Christensen stated.
He added, “And there is a lot of commitment to holding the MKR token versus upgrading to SKY.”
Christensen put forth three potential paths: sticking with Sky as the main brand to leverage recent advancements, returning to Maker with its established identity and reinstating MKR as the governance token, or a hybrid approach to modernise Maker’s image while aligning it with the recently launched USDS (CRYPTO:USDS) stablecoin.
A community call is scheduled for October 25 to collect more feedback, followed by a governance poll on November 4 to determine the future direction of the brand and tokenomics.
The rebrand to Sky in August sparked controversy, primarily surrounding the introduction of the USDS stablecoin.
Critics raised concerns about USDS having a “freeze function,” questioning the coin’s decentralisation.
Despite the rebranding effort, Maker’s original governance token, MKR, has struggled.
Since the transition to Sky, MKR’s value has declined by 45%, even after being redenominated at a ratio of 1 MKR to 24,000 SKY tokens.
At the time of writing, the Maker price was $1,182.56.
