A new Executive Vote is live. If approved, the Phase One of the MKR to SKY upgrade will be executed, enabling the following actions:
• Define the governance token upgrade process from MKR to SKY.
• Disable SKY-to-MKR conversion.
• Launch a new MKR-to-SKY converter contract at a fixed 1:24,000 rate with an adjustable penalty.
• Enable SKY as the governance token of the Sky Ecosystem.
• Launch SKY staking with new collateral parameters.
Alongside other additional changes required to complete the upgrade from MKR to SKY.
This executive proposal includes an office-hours modifier that means that it can only be executed between 14:00 and 21:00 UTC, Monday - Friday.
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