MakerDAO's community is slated to engage in discussions regarding the potential discontinuation of the Sky brand. A formal governance poll is planned for November 4.

MakerDAO is contemplating dropping the Sky brand following a lukewarm reception since the rebranding and a successful launch of the USDS stablecoin. The USDS stablecoin, launched in August, aims to provide native token rewards while coexisting with the existing DAI synthetic stablecoin, which will not change. On-chain data indicates a supply of $1.2 billion with a savings rate of 6.5%, and there is a consensus among community members that the launch was a success.

"It is also now more clear than ever just how much the DeFi community loves and trusts the Maker brand," Sky co-founder Rune Christensen stated on its governance forum. “There was a lot of affinity for the brand and what it stands for: stability, security, and DeFi scale. And there is a lot of commitment to holding the MKR token versus upgrading to SKY.”

Christensen mentioned that there are three proposals under consideration to address community concerns: continue with Sky as the core brand to capitalize on recent momentum, revert to the Maker brand with its original identity and restore MKR as the sole governance token, or refresh the Maker brand to align with the current ecosystem while preserving its established trust and stability.

Numerous contributors have pointed out that the introduction of the SKY token, which replaced MKR as the primary governance token under the Sky ecosystem, has not produced the expected growth. In the past two weeks, SKY is down 23%, whereas the CoinDesk 20, an index fund that tracks the performance of major digital assets, has gained 10%. MKR, the governance token, has decreased 24% year-on-year according to CoinDesk data.

The recently introduced controversial "freeze function"—implemented to guarantee regulatory compliance—has also faced critiques regarding its ambiguous utility and prospective long-term risks. With approximately $25 million of resources spent on the rebranding, consisting of 13.79 million DAI and 9,535 MKR, Christensen indicated that MakerDAO will organize a community call to gather feedback before conducting a governance poll on November 4 to decide on its future direction.