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Sky

SKY
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Sky (SKY)

What is Sky?

SKY is a governance token, which is like a digital voting share, for Sky Protocol. This system launched in 2024 as a rebrand and upgrade of the older Maker Protocol. Sky Protocol’s main value lies in giving users a simple, secure way to trade, save, and earn rewards without ever giving up control of their funds. It is built around a stablecoin called USDS, which is always worth one US dollar, but it is completely decentralized. The protocol is run by automated agreements called smart contracts, so there’s no middleman controlling users’ money. The system uses two main tokens: USDS for stable savings, and SKY for community governance. users can help secure the network and earn rewards by staking their SKY tokens in the Staking Engine, which is like locking them in an interest-bearing account to help the system run. The protocol also uses SkyLink to seamlessly connect users’ funds across different blockchains for faster and cheaper transactions. The Sky Protocol is unique because it has no single CEO or traditional core team of investors; instead, it is managed entirely by its global community of SKY token holders. This decentralized setup means that SKY is primarily used for two core utilities: it grants essential voting power to decide on all major system changes, and it can be staked in the Staking Engine to help secure the network and earn rewards. Staking also provides holders with the ability to borrow the USDS stablecoin, making SKY the essential key for both governance and income generation within the ecosystem.

Key Facts & Snapshot

  • Symbol: SKY
  • CoinGecko id: sky
  • Market cap rank (CoinGecko): #47
  • Categories: Decentralized Finance (DeFi), Ethereum Ecosystem, Stablecoin Issuer, Hydration Ecosystem, Governance
  • Circulating supply (snapshot): 23,157,152,302
  • Total supply (snapshot): 23,462,665,147
  • Max supply (snapshot): 23,462,665,147
  • All-time high (USD, CoinGecko): $0.1005 (Dec 4, 2024)
  • All-time low (USD, CoinGecko): $0.0358 (Feb 3, 2025)

Market (USD snapshot)

  • Market cap (USD, snapshot): $1.74B
  • 24h volume (USD, snapshot): $8.82M
  • Fully diluted valuation (USD, snapshot): $1.76B
  • 24h price change (snapshot): -3.82%

Contract addresses (by platform)

  • ethereum: 0x56072c95faa701256059aa122697b133aded9279
  • hydration: asset_registry%2F1000795

Official & Community Links

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Frequently Asked Questions

What is Sky (SKY) and what does it do?
Sky (SKY) is a governance token in the decentralized finance (DeFi) ecosystem that operates on Ethereum. It is associated with stablecoin issuance and decentralized governance, allowing holders to participate in protocol decisions.
What is the current market cap of Sky?
Sky has a market cap of approximately $1.74 billion, which ranks it at #47 among all cryptocurrencies. This positions it as a mid-cap DeFi project in the broader cryptocurrency market.
How much has Sky's price changed since its all-time high?
Sky reached its all-time high of $0.1005 on December 4, 2024, and has since declined to lower levels. As of the latest data, the price is down 3.82% in the last 24 hours and sits significantly below its ATH.
How risky is investing in Sky given its recent volatility?
Sky has shown significant price volatility, dropping from its all-time high of $0.1005 in early December 2024 to an all-time low of $0.0358 in early February 2025, representing a decline of over 60% in just two months. This extreme price swing indicates high volatility risk, and as a governance token tied to DeFi protocols, it faces additional risks from regulatory uncertainty, smart contract vulnerabilities, and fluctuating demand for its associated stablecoin services.
What is the total supply of Sky tokens?
Sky has a total supply of 23,462,665,147 tokens, with a circulating supply of 23,157,152,302 tokens currently in the market. The circulating supply represents approximately 98.7% of the maximum supply, meaning most tokens are already in circulation.

Sky Sectors

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Sky is tracked in the following market sectors on Best Info Crypto. Each page shows live aggregate data for that category.

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