# What is Sky Protocol? USDS, sUSDS and the MakerDAO Rebrand Explained

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**Publisher:** Decentralized Finance Publication (https://decentralized-finance.io)
**Author:** Sarah Chen
**Category:** Top DeFi Protocols
**Updated:** June 2026
**Trust:** Independent, ad-free editorial research. No display advertisements, no paid protocol coverage, no affiliate-driven rankings.

## Summary

Sky Protocol is the evolution of MakerDAO under its Endgame rebrand. USDS is Sky's primary stablecoin (successor to DAI branding for new products). sUSDS pays the Sky Savings Rate to holders. SKY is the governance token (migrated from MKR). SparkLend is Sky's lending SubDAO. DAI continues alongside USDS during the transition.

Sky Protocol represents MakerDAO's strategic rebrand and restructuring — moving from a single DAO governing DAI to a constellation of SubDAOs (Spark, Grove, etc.) under the Sky umbrella. USDS is the new stablecoin brand; sUSDS provides a native savings rate.

Existing DAI holders were not forced to migrate — DAI and USDS coexist, with SparkLend and Sky Savings products driving USDS adoption.

## Sky ecosystem components

- USDS: Sky stablecoin — minted via Sky Protocol collateral vaults
- sUSDS: Savings USDS — yield-bearing wrapper paying Sky Savings Rate
- SKY token: Governance token (MKR upgrade/migration path)
- SparkLend: Lending SubDAO forked from Aave V3
- DAI: Legacy stablecoin — still widely used in DeFi

## Frequently Asked Questions

- What happened to MakerDAO? MakerDAO rebranded to Sky Protocol as part of the Endgame plan — DAI still exists.
- USDS vs DAI? Both are Sky/Maker stablecoins; USDS is the new brand with sUSDS savings integration.
- What is SKY vs MKR? SKY is the new governance token; MKR holders can upgrade to SKY.
- Sky vs Aave? Sky issues stablecoins and governs SparkLend; Aave is an independent lending protocol.

## Sources

- [Sky Protocol](https://sky.money): Official Sky Protocol interface
- [SparkLend](https://app.spark.fi): SparkLend lending app
- [Sky on DeFiLlama](https://defillama.com/protocol/sky): TVL analytics

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