Sky Secures $15 Million in Funding on September 24, 2018

According to media reports, Sky raised $15 million in funding on September 24, 2018. The investment was led by Andreessen Horowitz. Following this round, Sky’s cumulative fundraising total reached $61.5 million.Sky is a decentralized financial system, with its native tokens USDS and SKY serving as upgraded versions of DAI and MKR, respectively. The project offers a range of products and services, including Sky Savings Rate, Sky Token Rewards, and Staking Engine. In addition, SkyLink enables connectivity between the Ethereum mainnet and Layer 2 networks.Tracing its origins to the MakerDAO project, Sky has marked several key milestones since MKR tokens began trading in January 2017. In December 2017, MakerDAO launched on the mainnet and secured $12 million in funding. In December 2019, the project raised an additional $27.5 million through an over-the-counter transaction. In May 2023, the team introduced the Spark Protocol lending platform, further expanding the ecosystem. In August 2024, MakerDAO was officially rebranded as Sky, signifying a new phase of development. Most recently, Sky implemented a governance vote allowing SKY holders to enable SPK mining, presenting new growth opportunities for the project.