Sky, formerly known as Maker, may be facing yet another rebranding decision barely two months after its last transformation.

Proposed Rebranding

Rune Christensen, co-founder of Maker, has proposed to the community a potential return to the “Maker” name. This proposal is in response to feedback on the recent rebranding move and the launch of its USDS stablecoin.

USDS Stablecoin Integration

The stablecoin, formerly known as DAI, reached a total supply of 1 billion just two weeks after its launch. USDS has already been integrated into leading decentralized finance platforms like Aave, Morpho, and Ethena, with plans to expand it to layer-2 networks and Solana.

Potential Paths Forward

The latest proposal comes just eight weeks after Sky was introduced. In the proposal, Christensen outlined three potential paths forward for the protocol:

  • Stick with the “Sky” brand, which has gained some recognition and momentum.
  • Restore the “Maker” brand to its original form, with MKR as the sole governance token.
  • Compromise by retaining the Maker name but refreshing its identity to align with recent product launches, such as USDS and the StarDAO ecosystem.

Community Confusion

Christensen’s proposal responds to the confusion created by the previous rebranding. Many users found it unclear how the Sky token, a re-denomination of the MKR token, fit into the larger ecosystem. The introduction of Sky also coincided with new features, leaving some community members struggling to keep track. The use of the “Sky” name for the token, protocol, and front-end further complicated things.

Community Reactions

Following the proposal, web3 developer Anon Builder expressed doubts about abandoning the MakerDAO brand’s equity:

Rune raised questions about whether it was a good decision to rebrand and if it was worth losing the MakerDAO brand equity. I have mixed feelings, I love Maker and DAI brands, but I don’t think going back is the right choice.

On the other hand, community figure Mason criticized the decision to rename DAI to USDS. He argued that DAI was one of the most recognizable brands in crypto and that transitioning to another “USDx” stablecoin made it harder to stand out in a crowded market:

They had a perfect brand that is losing its spark in a quest for universality. MakerDAO -> Sky isn’t even the problem in my opinion. It’s DAI – which had become one of the most recognizable tokens in crypto – going to USDS and joining the sea of other USD stablecoins.

Next Steps

The potential rebranding is part of a wider governance process, with community members set to vote on the proposal starting Nov. 4. Before the vote, a community call will take place on Oct. 25 to gather more input.

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