According to a report written by contributors from Steakhouse Financial, Sky (formerly MakerDAO) incurred a loss of $5 million in the first quarter of this year due to a doubling in interest payments to token holders. This loss stands in stark contrast to the previous quarter when Sky achieved a profit of $31 million. The primary reason for the 102% increase in interest expenses is Sky's decision to encourage users to adopt its newly launched stablecoin, Sky Dollar (USDS), with higher incentives, replacing the existing DAI.