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Sky (MakerDAO)

avoid.net/sky-makerdao→51/100·82% conf.
[AI-DRAFTED · AWAITING VERIFICATION][src:claude-code-investigator]

Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.

anchored·66f2vR…vein

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)□Ethereum64□Vitalik Buterin25□USDS55□Solana62
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
Vitalik Buterin·25Solana·62USDS·55Ethereum·64Lendf.me·30Levyathan·18Jump Trading·42OpenZeppelin AI Exploit Threat Vector·15StableMagnet·2Shibarium·28+ 50 more
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
Anchored on SolanaVerify on-chain12 Wayback Archivessrc:claude-code-investigator

Decision Log

This investigation is cryptographically anchored to the Solana blockchain (3 events). 12 of 14 cited source URLs have an Internet Archive snapshot.

full audit log →version history →

model: claude-code-investigator

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

last updated: 7/25/2026, 10:30:01 AM

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