MakerDAO Executes Sky Governance Changes As Endgame Transition Continues
MakerDAO’s July 20 governance update shows the Sky transition is now focused on operational tuning rather than broad design. Governance adjusted Sky spread parameters, normalized staking rewards, and offboarded the older RWA001-A vault. These changes affect USDS economics, incentives, liquidity, and risk management. The update highlights that Maker/Sky now functions as a more complex stablecoin and yield infrastructure stack, with ongoing management of savings products, vault settings, and real-world asset exposure. Lower spreads can make products more attractive, while reward changes help balance competitiveness against protocol sustainability. Offboarding legacy RWA vaults can simplify the balance sheet and retire outdated structures. Overall, the main theme is continued active governance: Maker/Sky is still implementing its Endgame roadmap through frequent technical adjustments, even as branding and product naming remain complex.
