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What is SKY Governance Token?

SKY

Sky is the protocol formerly known as Maker, which issues the USDS and DAI stablecoins against collateral.

The tokenSKY is its governance token, upgraded from MKR.

Supply and what is still to come

How many coins exist, how many can, who holds the part not yet circulating and what the schedule releases.

Circulating supply
23.45 billion SKY
Total supply
23.45 billion SKYin existence, locked or not
Maximum supply
None fixedno fixed maximum
Issued or unlocked
99.8%outside the project's own wallets, of the tokens not burned
Held in the project's disclosed wallets
0.2%35.70 million SKY
Burned
4.823 SKYsent to addresses that can never spend
Unlocks, next 30 days
33.18 million SKYfrom the disclosed schedule our unlock calendar follows
Unlocks, next 12 months
69.15 million SKYschedule ends 10 Jan 2027

A year in the market

Measured on the daily closes of our own US dollar price index.

Return, past year
+21.1%daily closes
Volatility, past year
73%annualised, daily log returns
Deepest fall from a peak, past year
−44.9%daily closes
Below its all-time high
−36.0%high of $0.09775 on 4 Oct 2026
Correlation with bitcoin
0.57daily returns, past year; 1 is lockstep
Beta to bitcoin
0.93its usual move for a 1% move in bitcoin

Points to check

What our data shows that a holder should know. Each point is a measurement, not a rating.

  1. Scheduled unlocks

    69.15 million SKY unlock over the next 12 months, 0.3% of today's circulating supply.

  2. Price swings

    Its daily moves were 1.6x as large as bitcoin's over the past year (volatility 73% against 44%).

Questions

What is SKY Governance Token?

Sky is the protocol formerly known as Maker, which issues the USDS and DAI stablecoins against collateral.

What is SKY used for?

SKY is its governance token, upgraded from MKR.

Is SKY Governance Token's supply capped?

No fixed maximum (no fixed maximum); the total supply today is 23.45 billion SKY.

Where is SKY Governance Token traded?

On 7 of the 11 exchanges we read: 6 list spot pairs against the dollar or a dollar stablecoin and 7 list perpetual futures. The token finder lists every pair.

Supply from our own nodes or the project’s published figures, prices from our own indexes, listings from the exchanges’ own instrument lists. Last update 9 Nov 2026, 01:00 UTC.