Odaily Planet Daily report: The DeFi protocol Sky (formerly MakerDAO) has announced the completion of 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 came from 5% of the protocol’s monthly net surplus, linking protocol performance to a permanent reduction in SKY supply.
Sky Completes Second Token Burn of 7.37 Million SKY
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Summary
Sky announces a protocol update with the completion of its second SKY token burn, removing 7.37 million SKY from circulation. This is 2.6 times the size of the first burn of 2.86 million. The burn utilizes 5% of the monthly net protocol surplus, linking performance directly to supply reduction. The move follows recent new token listings and ongoing governance adjustments.
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