💥 Gate Square Event: #PostToWinPORTALS# 💥
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📅 Event Period: Sept 18, 2025, 18:00 – Sept 25, 2025, 24:00 (UTC+8)
📌 Related Campaigns:
Alpha Trading Competition: Join for a chance to win rewards
👉 https://www.gate.com/announcements/article/47181
Airdrop Campaign: Claim your PORTALS airdrop
👉 https://www.gate.com/announcements/article/47168
Launchpool: Stake GT to earn PORTALS
👉 https://www.gate.com/announcements/articl
Balancer Issues Final Warning for MKR to SKY Token Migration
Balancer, a leading decentralized exchange, has issued a final reminder to MKR holders to complete their token migration to SKY, the new governance token of the Sky Ecosystem, by September 18th. This deadline is a crucial step in the final phase of the rebranding of Sky, formerly known as MakerDAO. This large-scale migration is part of the "Endgame" plan initiated in late 2024, which aims to modernize the protocol's tokenomics and governance structure. The goal is to lower the unit cost of governance tokens and encourage wider participation from retail investors.
Penalties Loom for Late Migrations
To incentivize a timely transition, the Sky Ecosystem may implement a penalty schedule for any MKR tokens that have not been migrated by the deadline. Pending governance approval, this penalty could begin as early as September 22nd, starting with a 1% deduction of SKY for every MKR that is migrated late. This penalty is planned to increase quarterly, making it more costly for holders to delay the process. Despite the urgency, a significant portion of the tokens still needs to be converted, as only approximately 61% of MKR had been migrated as of early September. The move has received support from major exchanges and liquidity pools, including Binance and Balancer's new reCLAMM pool.
Enhancing Governance and Liquidity
The migration process is set at a fixed 1:24,000 ratio, a strategic move designed to improve liquidity and make governance participation more accessible. By reducing the per-token cost, the project hopes to attract a broader base of retail investors, thereby strengthening the decentralized governance model. The successful completion of this migration is critical for the long-term health and stability of the Sky Ecosystem, ensuring that it remains a key player in the evolving landscape of decentralized finance.