Upgrade Timeline

Phase 1 — Partner outreach [Done]

• Integration partners, exchanges, and other external stakeholders will be contacted regarding the upcoming upgrade.

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Phase 2 — Migration announcement [Done]

2025-05-02

• The Atlas forum will feature an official post about the migration.
• The SKY migration will be publicly announced in detail.

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Phase 3 — Governance poll [Done]

2025-05-12

• All MKR holders will be able to participate in the governance poll.

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Phase 4 — Communications [Done]

2025-05-13

• A community‑wide marketing campaign for the Sky Ecosystem will be launched.

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Phase 5 — Spell publication [Done]

2025-05-15

• The governance upgrade spell will be published for community review.

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Phase 6 — Migration go‑live [Done]

2025-05-19

• The governance upgrade spell will be executed.

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Phase 7 — Staking rewards activation [Done]

2025-05-29

• The spell to activate USDS rewards for the Staking Engine will be published.

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Phase 8 — Delayed upgrade penalty kick‑off

2025-09-18

• A Delayed Upgrade Penalty will be applied to all MKR that does not upgrade to SKY before September 18.
• On September 18, the moment the Delayed Upgrade Penalty begins to take effect, a 1% penalty on all MKR to SKY upgrades will immediately be applied.
• Every 3 months after, the penalty will increase by an additional 1%.

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Phase 9 — Penalty ramp‑up (ongoing)

2025-12

• The delayed upgrade penalty will increase by 1%, unless Sky Governance decides otherwise.

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