The future arrived
faster than expected.
Due to the success of Ethereum's scalability upgrades and Sky.money's native evolution, we are concluding operations before our public launch.
A Victory for the Ecosystem
We started this journey with a clear mission: to democratize access to the MakerDAO (now Sky.money) savings rate. At the time, high gas fees on Mainnet and fragmented liquidity across chains made it difficult for the average user to access high-yield savings. We wanted to build the bridge.
However, the blockchain landscape changes rapidly. With the success of Ethereum's recent upgrades, Mainnet gas fees have become incredibly affordable. Simultaneously, Sky.money has shifted its strategy to offer seamless, native multi-chain USDS access.
"The problem we set out to solve has been solved by the infrastructure itself. Instead of launching a redundant product, we have decided to step back."
We believe that the best code is the code you don't need to write when the protocol solves it for you. This is a net positive for the industry.
No User Funds Were at Risk
Since our smart contracts were never officially deployed to Mainnet for public use, there are no user funds currently deposited in our system. No withdrawals are necessary, and no assets are locked. You do not need to take any action.
We Are Still Builders
While this specific chapter closes, our belief in the Ethereum ecosystem is stronger than ever. We are incredibly optimistic about a future where high-yield savings are natively accessible to everyone, everywhere, without the need for intermediaries like us.
Our team remains committed to building in this space. We are taking everything we learned here to explore new frontiers in DeFi.