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BlockBeats news, on May 14, according to Coindesk, a report written by contributors from Steakhouse Financial indicates that Sky (formerly MakerDAO) lost 5 million USD in the first quarter of this year, due to the doubling rise of interest paid to Token holders. This loss stands in stark contrast to the previous quarter, when Sky achieved a profit of 31 million USD. The primary reason for the 102% increase in interest expenses is that Sky decided to drive user adoption of its newly launched stablecoin Sky Dollar (USDS) through higher incentives, replacing the existing.
BlockBeats news, on May 14, according to Coindesk, a report written by contributors from Steakhouse Financial indicates that Sky (formerly MakerDAO) lost 5 million USD in the first quarter of this year, due to the doubling rise of interest paid to Token holders. This loss stands in stark contrast to the previous quarter, when Sky achieved a profit of 31 million USD. The primary reason for the 102% increase in interest expenses is that Sky decided to drive user adoption of its newly launched stablecoin Sky Dollar (USDS) through higher incentives, replacing the existing.