Just four MKR whales constituted 98% of the voting power in favor of sticking with the Sky rebrand.
A governance proposal to rebrand decentralized finance lending and borrowing protocol Sky back to Maker has been rejected in a vote dominated by a handful of whales.
“Sky ecosystem governance has concluded an onchain vote to continue using the Sky brand as the primary backend protocol of the ecosystem,” the DeFi protocol team stated in a post on X on Nov. 8.
It added that the decision “supports the ongoing transition from MKR to SKY and establishes Sky as the core brand.”