Sky token rises 10%, governance proposal adjusts market dynamics
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The Sky protocol has reduced staking rewards and expanded USDS credit infrastructure through governance proposals, while also implementing a token buyback plan. The price of SKY tokens has risen by nearly 10%. The new proposal reduces SKY staking rewards to approximately 838 million tokens, with a cycle of 180 days. The buyback plan has already used about 114.5 million USDS to repurchase around 1.83 billion SKY tokens. Currently, about 67% of SKY tokens have been staked. The newly introduced "Launch Agents" aim to promote the development of the USDS credit market, reflecting the DeFi sector's trend toward reducing emissions and supporting token buybacks through revenue to minimize dilution.
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