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MakerDAO founder wants MKR holders to vote on Sky brand and make a “firm decision”
MKR token holders are currently voting to gauge their opinion on whether MakerDAO should “reposition” the Maker brand and abandon the new name “Sky” adopted in August. The non-binding vote currently shows support among token holders for retaining the Sky brand, although participation is currently quite limited. In an interview, MakerDAO founder Rune Christensen remained neutral on the branding issue, but asked the community to resolve the branding controversy and refocus on growth. “The most important thing is to make a decision and focus on what’s important, which is the product,” he said. Christensen stressed that the name change to Sky is not just a cosmetic move, “much more than a rebrand,” but part of Maker’s “end game strategy” to launch new products such as the USDS stablecoin. Christensen said one way to track the success of this stablecoin is to look at the proportion of USDS that is idle and not receiving rewards. Of the more than $1 billion in circulation, a small but notable amount is not receiving rewards - indicating that it is held by real humans, not robots, because this idle behavior indicates real usage, as real users treat USDS as cash and hold it temporarily without seeking to maximize returns. However, while the move is still seen as a success and the launch of the USDS stablecoin exceeded expectations, Christensen also admitted that Sky’s renaming had challenges that affected community perception and market confidence. This round of voting will last until November 7. The next step will be a binding governance vote. (CoinDesk)
By: via Bpay News
MKR token holders are currently voting to gauge their opinion on whether MakerDAO should “reposition” the Maker brand and abandon the new name “Sky” adopted in August. The non-binding vote currently shows support among token holders for retaining the Sky brand, although participation is currently quite limited. In an interview, MakerDAO founder Rune Christensen remained neutral on the branding issue, but asked the community to resolve the branding controversy and refocus on growth. “The most important thing is to make a decision and focus on what’s important, which is the product,” he said. Christensen stressed that the name change to Sky is not just a cosmetic move, “much more than a rebrand,” but part of Maker’s “end game strategy” to launch new products such as the USDS stablecoin. Christensen said one way to track the success of this stablecoin is to look at the proportion of USDS that is idle and not receiving rewards. Of the more than $1 billion in circulation, a small but notable amount is not receiving rewards - indicating that it is held by real humans, not robots, because this idle behavior indicates real usage, as real users treat USDS as cash and hold it temporarily without seeking to maximize returns. However, while the move is still seen as a success and the launch of the USDS stablecoin exceeded expectations, Christensen also admitted that Sky’s renaming had challenges that affected community perception and market confidence. This round of voting will last until November 7. The next step will be a binding governance vote. (CoinDesk)
By: via Bpay News
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