Overview
Sky Ecosystem’s governance is transitioning from MKR token to the native SKY token. This upgrade marks a key milestone in Sky’s evolution from its MakerDAO roots and empowers SKY holders with full protocol control.
Document Structure
Section titled “Document Structure”To navigate this guide:
- Key Information: contract addresses and portals.
- Upgrade Timeline: phases and dates.
- Token Holders: conversion steps before/after activation.
- Protocol Participants: voting and staking workflows.
- Integrators: info for integrators.
- Codebase Change Analysis: changes between old and new versions.
- Chief Cutover Checks: monitoring governance cutover process.
- Vote Data API: monitoring governance cutover process.
- Troubleshooting: common issues and steps to resolve.
Key Changes
Section titled “Key Changes”- Governance Token MKR replaced by SKY for all on‑chain votes and protocol parameters on the new Chief governance contract.
- Conversion Model The current Bi‑directional conversion model between MKR and SKY becomes uni‑directional.
- Delayed Upgrade Penalty SKY holders can vote on penalty percentage for delayed upgrades after specified deadlines.
Audience & Next Steps
Section titled “Audience & Next Steps”- Token Holders Learn how and when to convert your MKR to SKY → Token Holders
- Protocol Participants Understand the timing to switch voting, delegation, and staking workflows → Protocol Participants
- Integrators Prepare your UIs, back‑ends, and tooling for SKY‑driven governance → Integrators
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