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SKY Expands Buyback Program, Daily SKY Buyback Limit Increased to $300,000 USDS

By: theblockbeats.news|2025/11/03 01:32:37

BlockBeats News, November 3rd, the latest execution vote of the Sky Protocol (formerly MakerDAO) has officially passed:

Staking Reward Mechanism Update: The original SKY → USDS reward model will be replaced by the SKY → SKY reward model, and stakers will need to manually migrate to the new system.
Buyback Scale Expansion: The daily SKY buyback quota has been increased to 300,000 USDS.
Treasury Fund Infusion: The protocol will transfer 500 million SKY to the treasury for future staking reward distribution.

The approval of this proposal marks a significant adjustment to the Sky Protocol's incentive mechanism and tokenomics, with related updates set to take effect soon.

A VIRTUAL investor/institution transferred 7.958 million VIRTUAL tokens to Teneo, worth $13.45 million.