Sky’s Staking Glow-Up: $1.6M USDS Distributed & SKY Surges 12%! 🚀

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Sky’s staking drama: $1.6 million handed out in a week, SKY‘s climbing like a SpaceX rocket 🚀

Alright, listen up, crypto junkies. Sky Protocol — formerly MakerDAO, because apparently everyone loves a good rebrand — just dropped its shiny new staking rewards program, and the numbers are making heads turn. Or maybe they’re just confused? Hard to say.

On June 9th, through some magical tweet (probably with lots of emojis), the team revealed that a staggering $568 million worth of SKY tokens are staking away like they’re trying to win a prize, earning USDS at a sleek 16% annual rate. Yeah, you read that right. They handed out more than 1.6 million USDS in just one week — it’s like playing crypto Santa, but with less shopping and more staking. 🎅💸

“More than $568 million in SKY are now getting USDS rewards at a current annual rate of 16%.

In just one week since launch, over 1.6 million USDS has already been distributed to users.” — Sky (@SkyEcosystem) June 9, 2025

And hold onto your hats because there’s more: staking SKY or dumping USDS into the ecosystem doesn’t just earn you some boring interest. Nope! You can also snag governance tokens (fancy way of saying “you get a say in the mess”) and points for some future projects that may or may not be vaporware. But hey, you keep full control of your precious assets — DeFi at its finest, or a game of financial Jenga waiting to topple? You decide.

This whole rollercoaster is part of Sky’s epic post-MakerDAO “Endgame” rebranding. Think of it as a superhero origin story, but for crypto tokens. They’ve upgraded over 420,000 MKR to SKY — the new boss governance token, with voting power and staking rewards, because why not?

Oh, and don’t worry, there’s a penalty coming for those slow to upgrade: for delayed upgrades, starting September 18, 2025, you’ll get hit with a 1% penalty, increasing by 1% every three months. Because who doesn’t love a little extra incentive to get moving? Half of the revenue is being fed back into SKY buybacks and rewards, aiming to get rid of all protocol costs by year’s end. Sounds like a plan, right? 🤷‍♀️

Now, about SKY’s price — it’s up over 12% since the rewards party started and is flirting with $0.0824. The charts look healthy, breaking above those boring moving averages, which basically means investors are feeling pretty bullish. It’s hanging near its Bollinger Band’s upper edge — strength, but maybe a pause before the next move? Or a quick dip, because who doesn’t love a thrill? The RSI (that’s fancy language for how overbought it is) is just under 66 — so not quite “sell everything” territory yet.

All in all, SKY looks to be consolidating with a semblance of confidence— bulls are on the move, and the momentum is still pretty positive. If SKY can leap over the $0.085 mark with some volume, a leap toward $0.10 isn’t out of the cards. But beware: if the buying dries up, a trip back down to $0.072 isn’t impossible; plenty of moving averages waiting to catch you there. It’s crypto, after all. Rollercoaster, anyone? 🎢

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2025-06-10 08:37