According to the latest official announcement from the MakerDAO (MKR) team, the current MKR tokens will be migrated to Sky Protocol (SKY) tokens at a ratio of 1 MKR to 24,000 SKY. Gate will support this token migration and provide a seamless swap service for users. Users’ MKR tokens held on Gate will be automatically swapped.
Gate will proceed with the following steps:
- By 08:00 UTC on September 7, 2025, Gate will disable new margin loans and crypto loans for MakerDAO (MKR).
- By 07:30 UTC on September 8, 2025, only position reductions will be allowed for MKRUSDT in futures trading. If you have active positions, please adjust your strategy in advance.
- At 08:00 UTC on September 8, 2025, Gate will automatically settle all MKRUSDT positions based on the average index price from the 30 minutes before futures trading suspension. All unfilled orders will be canceled automatically. Please close your positions before this time to avoid forced settlement.
- For users with active quantitative trading strategies involving MKR, please adjust strategies in advance. All active strategies will be forcibly terminated before 08:00 UTC on September 8, 2025.
- At 03:00 UTC on September 15, 2025, Gate will suspend MKR deposit, withdrawal, and trading services, including the MKR/USDT spot trading, Simple Earn, and margin trading.
- For users holding MKR in Simple Earn, please manually redeem your assets in advance, or they will be automatically redeemed before 03:00 UTC on September 15, 2025.
- For users with outstanding MakerDAO (MKR) margin loans, please repay your loans in advance. Otherwise, the loans will be automatically settled by 03:00 UTC on September 15, 2025.
- New Sky Protocol (SKY) ID: 0x56072C95FAA701256059aa122697B133aDEd9279 (ETH)
For more details on this token migration, please refer to the official announcement:
https://forum.sky.money/t/updated-information-for-sky-integrators/26766
Please note that Gate will no longer support the old MakerDAO (MKR) tokens after the migration. The listing time for Sky Protocol (SKY) will be announced separately after Gate completes the listing review.
We understand this change may cause some inconvenience and sincerely apologize for any disruption caused. We are committed to ensuring a smooth swap process and will provide timely updates as needed.
Thank you for your support and trust in Gate. If you have any questions or need assistance, please feel free to contact our customer service team.
Gate Team
July 31, 2025
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