MakerDAO Considers Rebranding Again, Community Members React

Sky, formerly known as Maker, may be facing yet another rebranding decision barely two months after its last transformation.

Barely two months after a major rebranding exercise, Sky (formerly Maker) is up for another potential name change.

Rune Christensen, co-founder of Maker, has proposed to the community a possible return to the “Maker” name, following feedback on the recent rebranding move and the launch of its USDS stablecoin.

The stablecoin, formerly known as DAI, reached a total supply of 1 billion two weeks after its launch. USDS has already been integrated into major decentralized finance platforms, including Aave, Morpho and Ethena, with plans to expand it to layer-2 networks and Solana.

The latest proposal comes eight weeks after the introduction of Sky. In the proposal, Christensen outlined three potential paths forward for the protocol.

The first option would be to continue with the “Sky” brand, which has gained some momentum and recognition since its launch. The second would restore the “Maker” brand to its original form, with MKR as the sole governance token.

A third option would be a compromise, retaining the Maker name but refreshing its identity to align with recent product launches, such as USDS and the StarDAO ecosystem.

Christensen’s proposal also addresses the confusion created by the previous rebranding, with many users unclear on how the Sky token, a re-denomination of the MKR token, fits into the larger ecosystem.

The introduction of Sky also coincided with several new features, leaving some community members struggling to keep track. The use of the “Sky” name for the token, protocol and front-end further complicated matters.

In contrast, the Maker brand has deep roots in the DeFi space, with users associating it with stability and trust. Many users continue to hold MKR, despite the option to transition to Sky.

The potential rebranding is part of a wider governance process, with community members set to vote on the proposal starting Nov. 4.

Before the vote, a community call will be held on Oct. 25 to gather more input.

Community reacts

Following the proposal, web3 developer Anon Builder expressed doubts about abandoning the MakerDAO brand’s equity.

While he appreciates the Maker and DAI names, he’s unsure if returning to the original branding is the best move.

Rune raised questions about whether it was a good decision to rebrand and if it was worth losing the MakerDAO brand equity. I have mixed feelings, I love Maker and DAI brands, but I don't think going back is the right choice. https://t.co/zcz5s7rx4f

On the other hand, Mason, a prominent community figure, criticized the decision to rename DAI to USDS. He argued that DAI was one of the most recognizable brands in crypto and that transitioning to another “USDx” stablecoin made it harder to stand out in a crowded market.

makerdao/sky is the twitter/x of crypto they had a perfect brand that is losing its spark in a quest for universality makerdao -> sky isn't even the problem imo. it's dai – which had become one of the most recognizable tokens in crypto – going to USDs and joining the sea of… https://t.co/5zcG63KPJu