Sky Completes First SKY Token Burn of 2.86 Million Tokens

Sky Ecosystem has completed its first SKY token burn, removing 2.86 million tokens from circulation. The tokens were purchased from the open market using 5% of the protocol's monthly net surplus. Sky, the decentralized stablecoin protocol rebranded from MakerDAO, stated that this action activates the link between protocol performance and the reduction of SKY supply.