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Sky (MakerDAO)

avoid.net/sky-makerdao→83/100·82% conf.
[AI-DRAFTED · AWAITING FACT-CHECK][src:claude-code-investigator]

Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 51 → 83. Problems weighed by who is responsible: concerns that are not fraud −18.4, incidents the subject suffered −12.4, problems around the subject, caused by others −1.7; legitimacy credit well known and widely used +25, long-running +10, regulated +5; fact-check adjustments (−7) now shown as page reliability, not in the score. Version history →

Why this score
Every page starts at65
Concerns that are not fraud-18.4
Incidents it suffered (e.g. hacks)-12.4
Problems around it, caused by others-1.7
Well known and widely used+25
Long-running+10
Regulated+5
Sum73

Score: 83/100 (kept between 0 and 100)

How scoring works →
anchored·66f2vR…vein
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Summary

Sky (formerly MakerDAO) is a DeFi lending protocol founded by Rune Christensen that governs the DAI/USDS stablecoin system. Rebranded in August 2024 with USDS and SKY token migration. Key risks include the March 2020 Black Thursday oracle failure ($8.32M in losses, $28M class action dismissed), governance centralization (top 3 holders controlled 78%+ of votes per academic research), DAI depeg events, and USDS freeze function controversy. No SEC/CFTC enforcement actions exist. USDS supply grew ~86% to ~$9.86B through 2025.

Connected Entities

5 entities · 60 linked investigations
Organizations
□Sky (MakerDAO)□Ethereum90□Vitalik Buterin67□USDS61□Solana89
Relationships
  • USDS→mentioned with→Ethereum(70%)
  • Sky (MakerDAO)→mentioned with→USDS(70%)
  • Sky (MakerDAO)→mentioned with→Ethereum(70%)
  • Sky (MakerDAO)→mentioned with→Solana(65%)
  • Ethereum→mentioned with→Vitalik Buterin(80%)
  • USDS→mentioned with→Sky (MakerDAO)(70%)
  • Sky (MakerDAO)→mentioned with→Vitalik Buterin(80%)
  • Vitalik Buterin→mentioned with→Ethereum(65%)
  • Solana→mentioned with→Ethereum(60%)
Also appears in
BNB Chain Bridge·51CoinDCX·62Vitalik Buterin·67Compounder Finance·0Chads NFT·69Socket Protocol·66Lendf.me·50Bankr·63Trenton Richard Johnston·28YLDS·67
Have evidence about Sky (MakerDAO)?

Timeline(15 events)

18 December 2017

DAI stablecoin launches on Ethereum mainnet

coindesk.com

April 2019

OpenZeppelin discovers critical DSChief governance vulnerability ($100M at risk)

openzeppelin.com

12 March 2020

Black Thursday: $8.32M in ETH collateral drained via zero-bid exploit

coindesk.com

October 2020

Flash loan used to manipulate MakerDAO governance vote

theblock.co

July 2021

Maker Foundation dissolved; governance fully transferred to MKR holders

coindesk.com

October 2022

Endgame Plan ratified via new Constitution

theblock.co

28 October 2022

Co-founder Nikolai Mushegian dies; police find no foul play

decrypt.co

24 February 2023

$28M Black Thursday class action dismissed by US judge

coindesk.com

11 March 2023

DAI depegs during SVB/USDC crisis

coindesk.com

April 2023

Metronym settles Black Thursday subset for $1.16M

blockworks.co

20 July 2023

MakerDAO halts lending to Centrifuge pool after $2M+ default

coindesk.com

September 2023

Christensen proposes NewChain (Solana fork); Vitalik sells ~$580K MKR

theblock.co

27 August 2024

MakerDAO rebrands to Sky; USDS and SKY tokens launched

coindesk.com

November 2024

Sky brand retention vote: ~20 voters, 4 entities hold ~80% of vote weight

theblock.co

May 2025

MKR-to-SKY conversion penalty mechanism introduced

theblock.co
Provenance & Audit Trail
Recorded on Solana ✓Verify on-chain12 Wayback Archivessrc:claude-code-investigator

Decision Log

  • #5reviewRecorded on Solana ✓10/16/2026, 10:00:35 AM
    slot 457596479 · hash BEGhZMYoez9w6dvfbVdZJZhdhRnL7E5mAKU53CQJRXXq
  • #4rescore+32Recorded on Solana ✓10/10/2026, 6:50:40 PM
    slot 455370866 · hash d1fTboZyHbx7yN5CFgACVhc27VkVWwoNxq7jC14Sc9D
  • #3review revise-7Recorded on Solana ✓6/8/2026, 11:09:23 PM
    slot 425207325 · hash FYfKknABc3sWX1ehNmTsZZJdhK9ccQNGyyKwa9iom14E
  • #2reviewRecorded on Solana ✓6/8/2026, 11:09:23 PM
    slot 425207316 · hash GMKsyhzHJw3ZAmexrgj2hG9XCgz2UPon4EtYkbp5oT32
  • #1publishRecorded on Solana ✓5/14/2026, 6:02:52 AM
    slot 419629003 · hash 7Vy2SYjQhXXSAperTWxH935Cru2eTECiBuT943LaRebM

This investigation is cryptographically anchored to the Solana blockchain (5 decisions). 12 of 14 cited source URLs have an Internet Archive snapshot.

Fact-checked 2026-10-1624 claims checked5 corrections pending0 applied⛓ anchoredSee findings →
full audit log →version history →

model: claude-code-investigator

generated: 5/13/2026, 3:43:54 AM

last updated: 10/10/2026, 6:50:39 PM

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