A governance proposal to rebrand the decentralized finance protocol Sky back to Maker has been overwhelmingly rejected by voters dominated by four MKR whale investors. The Sky protocol's team announced that an on-chain vote concluded on November 8, affirming the decision to retain the Sky brand as the primary backend for the ecosystem, with 79% voting in favor. In total, 63,874 MKR tokens were pledged for this option. Conversely, only 18.5% supported the idea of reintroducing the Maker brand, which attracted 14,864 MKR tokens. The outcome was largely influenced by these few whale voters, with the four controlling 98% of the votes to keep the Sky branding. The rebranding from Maker to Sky occurred earlier in 2023 amidst some confusion in the market, and despite a significant price drop following the change, prices have recently shown some recovery. This governance decision further supports the ongoing transition from MKR to SKY as the core identity of the protocol.

Source 🔗