SKYMaker Price

On September 15, Sky announced on platform X that the first SKY burn has been completed. A total of 2.86 million SKY, repurchased from the open market using 5% of the monthly 'Net Protocol Surplus,' has been permanently removed from circulation. This means that the mechanism linking protocol performance with a reduction in SKY supply is now officially in effect.

On September 11, Cointelegraph reported that Standard Chartered has released a report covering the decentralized finance platform Sky's SKY token for the first time, setting a target price of $0.325 by the end of 2028, which represents a nearly fivefold increase from the quoted price of $0.065 in the report. Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, compared Sky to a 'federal bank' due to its issuance of stablecoins, establishment of a governance framework, and charging wholesale rates to borrowers. The report states that Sky primarily returns value to token holders through staking rewards, with token buybacks being relatively small. Sky is currently the third-largest stablecoin issuer, following Tether and Circle, and is the largest issuer of yield-bearing stablecoins. Its yield-bearing token, sUSDS, has a total locked value of $4.5 billion and an annualized yield of 3.6%.

On September 11, Standard Chartered Bank announced its initial coverage of the DeFi protocol Sky, setting a target price of $0.325 for the SKY token by the end of 2028, representing a fivefold increase from the reported current price of $0.065. The bank anticipates that as the adoption rate and lending capabilities of USDS expand, the value delivered to SKY token holders by 2028 will exceed five times the current value. Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, stated that Sky, formerly known as MakerDAO, is a decentralized finance (DeFi) platform capable of issuing stablecoins, establishing governance frameworks, and charging wholesale rates to borrowers, making it akin to a 'federal bank.' Sky primarily rewards SKY holders through staking incentives, with token buybacks being relatively minimal. It is noteworthy that Standard Chartered has initiated coverage on several crypto projects this year, most of which have seen significant price increases following their reports, with the accurate prediction of UNI's target price this year being a highlight.