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The protocol formerly known as MakerDAO has rebranded to Sky to better represent its transition towards decentralization. The project has long offered a stablecoin, DAI, but is now evolving further with the introduction of the USDS stablecoin and the establishment of independent governance entities termed "Stars."
Sky aims to foster a more decentralized governance model while retaining its stablecoin dynamics, with a total supply of 28.5 billion SKY tokens. It currently holds a market cap of around $1.7 billion. Based on historical performance, there’s potential for a threefold increase from current levels, making a logical target of $1 a reasonable consideration as regulations around stablecoins become clearer.