Bitunix Exchange Lists $SKY Coin as MakerDAO Evolves into Sky Protocol

As crypto enthusiasts await a potential altseason, and just as Ethereum broke its record by nearly touching $5,000 on Sunday, August 24th, a whale sold 24,000 BTC at the same time, sending Bitcoin into a sharp decline towards the $113k support zone. While the crypto community awaits a potential altseason and is closely monitoring the market, many crypto projects are emerging. Some are even rebranding, such as Maker (MKR), which has now become SKY Protocol.

On August 25th, Bitunix exchange completed a token swap, transitioning from the familiar MakerDAO’s MKR to the newly minted Sky (SKY). Spot trading for SKY/USDT officially launched on Bitunix, opening a fresh path for crypto enthusiasts to trade, explore, and participate in SKY coin.

What Is Sky (SKY) Coin?

Sky (SKY) is more than just another token; it’s a rebirth of the longstanding MKR token into a modern governance token for the evolving Sky Protocol. This protocol offers users ways to save and earn without giving up control of their assets. Sky’s ecosystem centers around USDS, its stablecoin (a revamped version of DAI), which powers features like a 4.5% annual savings rate and token rewards when users supply USDS.

From Maker to Sky

Sky was born from the Maker Protocol, one of the first and most successful decentralized finance (DeFi) projects. Maker introduced the DAI stablecoin in 2017, originally backed only by Ethereum. By 2019, the system had expanded into Multi-Collateral DAI (MCD), allowing more assets to be used as collateral and introducing new features, such as the DAI Savings Rate (DSR).

In 2024, as part of a new roadmap, MakerDAO rebranded into the Sky Protocol. This marked a shift toward a more community-driven governance model.

Founders and Vision

The project was originally created by Rune Christensen, who introduced the idea of a decentralized stablecoin in 2015. While he played a key role early on, today Sky is managed by its community through a DAO (Decentralized Autonomous Organization).

The vision of Sky is to provide open, permissionless, and non-custodial finance giving anyone in the world access to stable money (USDS) and decentralized governance (SKY) without relying on banks or centralized platforms.

Where to Buy Sky (SKY) Coin

Starting on August 25th, SKY/USDT is available on Bitunix as a spot trading pair. Bitunix is a feature-oriented exchange that aims to make the buying process easier for all users by providing maximum security and transparency for them. As the world’s fastest-growing crypto exchange, Bitunix now has over 2 million users worldwide and $5 billion in daily trading volume on average.

 

Why Did Bitunix List Sky (SKY) Coin?

Bitunix took this step to support the official MKR-to-SKY token swap and the vision behind Sky Protocol. By listing SKY so soon after the rebrand, Bitunix is allowing users to access governance, savings, and rewards under the SKY umbrella.

This move makes it easy for its users who are looking to buy SKY while staying in tune with one of the more thoughtful upgrades in the DeFi space. Bitunix’s trust in this project underscores Sky’s promise to offer a meaningful, user-first DeFi experience.

How to Buy Sky (SKY) Coin ?

Buying SKY is simple, even for those new to crypto. Here’s a step-by-step guide:

1. Open an Account

Visit the Bitunix website and log in to an existing account, or create a new one using an email and password.

2. Add Money

In the wallet section, choose USDT and make a deposit. This can be sent from another exchange or from a personal wallet.

3. Find SKY

Go to the Spot Trading section, search for “SKY,” and select the SKY/USDT market.

4. Buy SKY

There are two ways to place an order:

• Market Order – buys immediately at the current price.
• Limit Order – sets a price to buy at, and the order goes through once the market reaches that price.

Choose the amount of SKY to buy and confirm. The tokens will then appear in the exchange wallet.