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Record sog_issuer_makerdao_sky

MakerDAO / Sky

MakerDAO, now part of the wider Sky ecosystem, created DAI and later introduced USDS and related products.

Category
Protocol or software system
Regulatory character
Protocol or decentralized system
Jurisdiction
Unknown or not publicly resolvedUnknown or not publicly resolved
Connected assets
5
Relationships
4 current1 historical
Evidence
15 source records

Identity and taxonomy

Overview

Public classification, legal-form state, jurisdiction, roles, confidence, and review state remain explicit.
Organization categoryProtocol or software system
Canonical organization typeProtocol Ecosystem
Legal formNot recorded in canonical data
Legal-form stateNot Recorded
Regulatory characterProtocol or decentralized system
JurisdictionUnknown or not publicly resolved
Jurisdiction scopeUnknown or not publicly resolved
Functional rolesProtocol operator
Relationship statesActive relationship, Ended relationship
Primary display relationships5
Official websitehttps://sky.money/
Record confidenceMedium
Last reviewed2026-06-01
Category
Protocol or software system
Regulatory character
Protocol or decentralized system
Jurisdiction
Unknown or not publicly resolved
Jurisdiction scope
Unknown or not publicly resolved
Functional roles
Protocol operator
Record confidence
Medium

Connected assets

Relationships

Current, ended, and unknown relationships remain separate. Primary display is navigation only.
StablecoinSymbolFunctional roleDisplayFromUntilStateLifecycle
DaiDAIProtocol operatorPrimary display2017-12-18Not yet recordedActive relationshipActive
Savings DAIsDAIProtocol operatorPrimary displayNot yet recordedNot yet recordedActive relationshipRestricted
Savings USDSsUSDSProtocol operatorPrimary displayNot yet recordedNot yet recordedActive relationshipActive
USDSUSDSProtocol operatorPrimary display2024-08-27Not yet recordedActive relationshipActive
Single-Collateral DaiSAIProtocol operatorPrimary display2017-12-182019-11-18Ended relationshipMigrated

Dai

Primary display
Role
Protocol operator
State
Active relationship
From
2017-12-18
Until
Not recorded

Savings DAI

Primary display
Role
Protocol operator
State
Active relationship
From
Not recorded
Until
Not recorded

Savings USDS

Primary display
Role
Protocol operator
State
Active relationship
From
Not recorded
Until
Not recorded

USDS

Primary display
Role
Protocol operator
State
Active relationship
From
2024-08-27
Until
Not recorded

Single-Collateral Dai

Primary display
Role
Protocol operator
State
Ended relationship
From
2017-12-18
Until
2019-11-18

Material history

Events

Typed events and organization control actions remain linked to evidence.
DateEventCategorySubtypeStatus effect
2026-06-15sDAI retained with limited legacy status after the Sky transitionLifecycle reviewStatus ReviewRestricted or impaired
2024-09-18sUSDS activates in the Sky Token and Product LaunchLaunch and introductionLaunchNo lifecycle change
2024-08-27MakerDAO introduces the Sky brand and USDSMigration and rebrandRebrand or Lifecycle TransitionNo lifecycle change
2024-08-27USDS launch and Sky transition contextLaunch and introductionLaunchNo lifecycle change
2023-05-09Savings DAI becomes publicly available through Spark ProtocolLaunch and introductionLaunchNo lifecycle change
2020-03-12Dai and MakerDAO during Black ThursdayDepeg and peg stressMarket Stress Liquidation EventNo lifecycle change
2019-11-18Multi-Collateral Dai launchMigration and rebrandProtocol TransitionNo lifecycle change
2019-11-18Single-Collateral Dai becomes SAI during the Multi-Collateral Dai launchMigration and rebrandMigrationMigrated
Not yet recordedsUSDS becomes the active Sky Savings Rate vault shareGovernance and protocol changeProtocol Model UpdateRemained active

Provenance

Evidence

Source identity, publication date, reliability, archive state, and relation count remain separate.
15 source identities · 21 evidence relations
SourcePublisherSource categoryProvenancePrimary or secondarySupported claimsArchiveReliability
MakerDAO / Sky documentation for Dai
Published Not yet recorded		Sky / MakerDAO ecosystemOfficial statement or announcement
Canonical: Issuer Statement		Subject-controlled sourcePrimary sourceCollateral Model, Entity Lifecycle, Dai Lifecycle ContextNo archive recordedMedium
MakerDAO governance/forum lifecycle reference
Published Not yet recorded		Sky / MakerDAO governance forumGovernance record
Canonical: Governance Reference		Governance primary sourcePrimary sourceGovernance Lifecycle, Black Thursday ContextNo archive recordedMedium
Sky.money page
Published Not yet recorded		Sky.moneyOfficial documentation or product page
Canonical: Protocol Page		Subject-controlled sourcePrimary sourceUSDS, sUSDS, Sky Savings Rate, non-custodial access, yield disclaimers, US availability notes, and protocol/interface separation, Dai Sky Lifecycle Context, Protocol Asset Classification, Protocol Collateral Backing, Usdc Usds Conversion, Decentralized Governance, Non Custodial Interface Separation, Usds Protocol Asset Collateral System Conversion and Non Custodial Interface SeparationNo archive recordedHigh
sUSDS page
Published Not yet recorded		Sky.moneyOfficial documentation or product page
Canonical: Product Page		Subject-controlled sourcePrimary sourcesUSDS, Sky Savings Rate, USDS to sUSDS flow, liquidity, rate governance, and withdrawal context, Active Product, Sky Savings Rate, Current Access, Current Product StatusArchive index or wildcardHigh
The Maker Protocol White Paper
Published Not yet recorded		MakerDAO / SkyTechnical documentation or repository
Canonical: Official Whitepaper		Subject-controlled sourcePrimary sourceprotocol asset structure, collateralized generation, vault collateral control, and absence of conventional issuer redemption claimNo archive recordedHigh
Multi-Collateral Dai is live
Published 2019-11-18		MakerDAOOfficial statement or announcement
Canonical: Official Statement		Subject-controlled sourcePrimary sourceMigration Event, Launch Date, Identity TransitionArchive index or wildcardHigh
Single-Collateral Dai to Multi-Collateral Dai migration documentation
Published Not yet recorded		MakerDAO DocumentationOfficial documentation or product page
Canonical: Official Documentation		Subject-controlled sourcePrimary sourceMigration Mechanics, Redemption Exit, Identity TransitionArchive index or wildcardHigh
SAI token contract on Ethereum
Published Not yet recorded		EtherscanOn-chain record or explorer
Canonical: Onchain Contract		Technical primary sourcePrimary sourceContract Identity, Ethereum DeploymentNo archive recordedHigh
Sky Protocol token routes
Published Not yet recorded		Sky ProtocolOfficial documentation or product page
Canonical: Official Documentation		Subject-controlled sourcePrimary sourceSdai Exists, Susds Difference, Legacy Route Context, Current Token Relationships, Usds Deposit, Susds Withdrawal, No Protocol Fee, Subscription and Redemption RouteArchive index or wildcardHigh
Sky sDAI smart-contract repository
Published Not yet recorded		Sky EcosystemTechnical documentation or repository
Canonical: Official Repository		Technical primary sourcePrimary sourceErc4626 Contract, Dai Underlying, Contract Continuity, Contract IdentityArchive index or wildcardHigh
Dai Savings Rate documentation
Published Not yet recorded		MakerDAOOfficial documentation or product page
Canonical: Official Documentation		Subject-controlled sourcePrimary sourceDai Savings Rate, Exchange Rate Accrual, Protocol Determined Rate, Underlying Savings MechanismArchive index or wildcardHigh
sUSDS token and vault
Published Not yet recorded		Sky ProtocolOfficial documentation or product page
Canonical: Official Documentation		Subject-controlled sourcePrimary sourceErc4626, Deposit Usds, Withdraw Usds, Active Deployment, Entity and Vault MechanicsArchive index or wildcardHigh
Sky Protocol Launch Season: Token and Product Launch Parameter Proposal
Published 2024-09-06		Sky GovernanceGovernance record
Canonical: Official Governance Proposal		Governance primary sourcePrimary sourceLaunch Date, Product Activation, Sky Savings Rate, Lineage, Susds Product Launch and Activation DateArchive index or wildcardHigh
Maker announces Spark Protocol availability for all DeFi users
Published 2023-05-08		MakerDAOOfficial statement or announcement
Canonical: Official Social		Subject-controlled sourcePrimary sourceLaunch Date, Spark Protocol, Public Availability, Sdai Support, Public Launch and AvailabilityArchive index or wildcardHigh
SavingsDai contract creation on Ethereum
Published 2023-01-17		EtherscanOn-chain record or explorer
Canonical: Onchain Explorer		Technical primary sourcePrimary sourceEthereum Deployment, Contract Address, Deployment Date, Prelaunch Boundary, Contract Deployment Before Public LaunchArchive index or wildcardHigh

Uncertainty

Known unknowns

Reviewed gaps remain visible instead of being converted into false certainty.

lifecycle_transition

DAI, Sky, USDS, MKR/SKY, savings products, upgrade/conversion flows, and related successor or parallel token lifecycle details require dedicated source-backed lifecycle records.

Severity
Medium
Last checked
2026-06-04

PR-024D records Sky.money and docs entry points but still needs exact DAI/USDS lifecycle proposal or product pages.

collateral_composition

DAI collateral composition, real-world asset exposure, PSM exposure, surplus buffer, and protocol risk parameters need exact dashboard or documentation sources before SOG displays a historical collateral timeline.

Severity
Medium
Last checked
2026-06-04

Keep DAI as protocol-based and avoid issuer-reserve framing. PR-024D does not yet select canonical collateral dashboard sources.

redemption_mechanics

DAI redemption-like exits through protocol mechanisms, market liquidity, PSM-like flows, USDS/Sky upgrade or conversion flows, and successor product routes need source-specific explanation and should not be described as fiat-backed issuer redemption.

Severity
Medium
Last checked
2026-06-04

PR-024D explicitly separates DAI protocol exits from fiat-backed issuer redemption models.

dai_usds_upgrade_path

The exact lifecycle relationship between DAI and USDS, including upgrade, conversion, reversibility, app flow, and any future migration changes, needs source-specific protocol documentation before final lifecycle treatment.

Severity
Medium
Last checked
2026-06-05

PR-028E separates DAI/USDS lifecycle from savings-token context.

susds_relationship

sUSDS is a related savings token and should not be merged into the USDS stablecoin record. Exact mint, withdrawal, rate, liquidity, and contract behavior need dedicated source-backed treatment.

Severity
Medium
Last checked
2026-06-05

PR-028E records sUSDS as related context rather than as the same asset.

collateral_composition

USDS collateral composition, protocol exposure, reserve-style reporting, and how these relate to legacy MakerDAO or current Sky disclosures need exact protocol and dashboard sources.

Severity
Medium
Last checked
2026-06-05

A fiat-reserve framing is not appropriate for USDS without protocol-specific context.

rates_and_governance

Sky Savings Rate and related rates can change through protocol governance. Current rates, governing modules, and effective dates should not be represented as static guaranteed product terms.

Severity
Medium
Last checked
2026-06-05

PR-028E keeps rate context separate from stablecoin status and avoids yield guarantees.

chain_contracts

USDS, sUSDS, stUSDS, bridge, and chain-by-chain contract references need exact developer-doc, chainlog, or verified explorer sources before final addresses are displayed.

Severity
Medium
Last checked
2026-06-05

PR-028E added documentation entry points but not final contract records.

interface_availability

Sky.money interface access, regional availability, USDS product availability, and protocol access should be separated because interface restrictions do not necessarily equal protocol unavailability.

Severity
Medium
Last checked
2026-06-05

Keep interface access, protocol access, and secondary-market availability distinct.

remaining_migration_and_settlement_state

The exact amount of SAI still outstanding and the current usability of every migration or shutdown-settlement contract were not fully verified in this review.

Severity
Medium
Last checked
2026-06-14

Do not treat historical migration documentation as proof that every current interface remains operational.

final_supply_and_residual_holders

Residual SAI supply, holder distribution, and final settlement outcomes require direct on-chain analysis.

Severity
Low
Last checked
2026-06-14

Historical token existence does not imply active issuance.

current_first_party_interface_support

The sDAI contract lineage remains documented, but the extent of current first-party interface support is not fully normalized.

Severity
High
Last checked
2026-06-15

Basis for limited status rather than active or terminated.

future_sunset_or_migration_policy

No authoritative source in this batch establishes a final sDAI termination date or mandatory migration to sUSDS.

Severity
Medium
Last checked
2026-06-15

Do not mark terminated or migrated without a primary source.

exact_launch_date

Current official documentation establishes the active sUSDS vault but the canonical day-level launch date is not fixed in this batch.

Severity
Low
Last checked
2026-06-15

Keep launch_date null pending a dated primary source.

current_sky_savings_rate

The Sky Savings Rate is governance-determined and variable; the live rate is not stored as a static canonical fact.

Severity
Medium
Last checked
2026-06-15

Suitable for monitoring, not static entity data.

Maintenance

Corrections and further reading

Report a record problem or inspect methodology and machine-readable data.
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