MKR Migration Deadline Approaches with Penalty Risk
MKR Migration Deadline Approaches with Penalty Risk
⏰ MKR Migration Deadline
Sky Ecosystem (formerly MakerDAO) migration deadline is September 18th, with potential penalties starting September 22nd if governance approves.
Key Details:
- MKR holders have until Sep 18th to migrate to SKY tokens
- Penalty structure: 1% loss of SKY tokens (240 SKY per MKR) starting Sep 22nd, escalating quarterly
- Conversion rate: 1 MKR = 24,000 SKY (irreversible)
Migration Steps: 1. Withdraw from existing MKR pools on Balancer 2. Visit sky.money to upgrade MKR to SKY 3. Add liquidity to new SKY/WETH reCLAMM pool
What's reCLAMM? Fungible concentrated liquidity that automatically rebalances positions as market conditions change, eliminating manual range management.
Balancer is supporting the transition with a new V3 pool featuring this next-generation technology for Sky's upgraded tokenomics.
Big moment for @SkyEcosystem (formerly MakerDAO) 🌊 The $MKR → $SKY migration deadline hits September 18th, and penalties can begin after Sep 22nd if approved by the governance. Balancer has been proud to provide MKR liquidity for years. Now it's time to evolve with them 🧵
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