Huoxing Finance reports that the DeFi protocol Sky (formerly MakerDAO) has completed its second SKY token burn, permanently removing 7.37 million SKY tokens from circulation—approximately 2.6 times the amount of the first burn, which was 2.86 million SKY. The funds for this burn were sourced from 5% of the protocol’s monthly net surplus, linking protocol performance to a permanent reduction in SKY supply.
DeFi Protocol Sky Completes Second Token Burn of 7.37 Million SKY
MarsBitShare
Summary
The DeFi protocol Sky (formerly MakerDAO) announced a protocol update, completing its second SKY token burn of 7.37 million tokens—2.6 times the size of the first burn of 2.86 million SKY. The burn utilized 5% of the monthly net protocol surplus, permanently reducing the SKY supply. This action follows a DeFi exploit that prompted enhanced security measures. Funds are tied to protocol performance, ensuring ongoing supply adjustments.
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