Sky (SKY) token upgrade from MKR

Maker (MKR) and Hedera’s (HBAR) tokens had a mixed performance this week, with MKR outperforming due to a planned token upgrade.

Both tokens are performing better than Bitcoin (BTC) and Ethereum (ETH), which saw a slight decline in the past 24 hours.

Maker (MKR) surges as Sky submits proposal to upgrade token to SKY

After several months of planning, the Maker DAO rebranding to Sky and its native MKR token upgrade has finally begun. Announcing the final stage of the rebranding, the Sky team said earlier this week that it has submitted a new governance proposal to finalize the upgrade from MKR to SKY.

The proposal will see the activation of USDS rewards for SKY holders and enable SKY Staking.

The proposal saw MKR’s price surge 5% this week, outperforming the broader cryptocurrency market. At press time, MKR is trading at $1,542, up 1% in the last 24 hours as investors look forward to the token upgrade.

The upgrade would see the token price surge even higher in the near term.

The proposal to finalize the rebranding and token upgrade is agenda item no. 74. The proposal will close on April 27 at 10:00 UTC. Afterward, the community vote will decide whether the proposal passes or fails.

If approved, the proposal will see the final stage of rebranding from Maker to Sky. It will also mark the beginning of SKY staking and USDS rewards.

The proposal comes after months of planning by the Sky team and community members. In December 2023, the Maker DAO community approved a proposal to rebrand the protocol to Sky and upgrade its native MKR token.

The proposal also saw members vote on a new liquid token standard and the introduction of a new governance token. At the time, the proposal to introduce a liquid token standard failed. Still, the proposal to upgrade the MKR token passed overwhelmingly.

The proposal to upgrade the MKR token will also see the introduction of a new token, SKY. The upgrade will also pave the way for the launch of an L2 network on the Bitcoin blockchain.

The new L2 network will serve as a hub for memecoin trading on the Bitcoin blockchain. It will also enable developers to easily migrate their projects from other chains to Bitcoin.

The initiative is part of efforts to expand the Bitcoin DeFi ecosystem and attract more users to the world’s leading cryptocurrency.

Bitcoin Pepe to bring memecoin trading to Bitcoin

Another coin on this list is Bitcoin Pepe. It is an interesting project presenting users and investors with a unique value proposition.

The team is building a Layer-2 network on the Bitcoin blockchain, leveraging its liquidity and security. Bitcoin Pepe will become home to memecoin trading on the Bitcoin blockchain.

The L2 network will empower developers with the tools to migrate their memes from other blockchains to the Bitcoin blockchain.

Its native token, $BPEP, will power various activities within the Bitcoin Pepe ecosystem. Developers will use the token to pay for fees and other transactions.

By offering utility, $BPEP’s value could soar once it launches on exchanges, and early investors could enjoy massive ROI.

Bitcoin Pepe’s presale is entering a new stage

The presale presents an excellent opportunity for investors to gain early access to the Bitcoin Pepe ecosystem.

As the first meme initial coin offering (ICO) on the Bitcoin blockchain, Bitcoin Pepe’s L2 network could attract various meme projects.

The Bitcoin Pepe presale has raised over $7.5 million and will enter the tenth stage once the funding hits $7.7 million.

Investors can buy $BPEP via the Bitcoin Pepe website. Accepted modes of payment include ETH, USDT, USDC, BNB, and SOL.