Sky, formerly known as MakerDAO, is rebranding to enhance its multichain capabilities by utilizing Wormhole's technology. Wormhole's native token transfer framework, NTT, enables seamless cross-blockchain transfers without changing the tokens' properties. Sky will use NTT to bring its governance token SKY and stablecoin USDS to Solana, making them natively available on both Solana and Ethereum via bridges like Portal. Tokens deployed using NTT will have a unified supply, eliminating liquidity fragmentation. Sky will have full control over its tokens, including customization, ownership, upgrades, and metadata management. The co-founder of Sky, Rune Christensen, also announced an incentive program that will allocate 2 million SKY to decentralized finance protocols on Solana.
- Content Editor ( crypto.news )
- 2024-09-20
Sky expands native tokens to Solana with Wormhole NTT