# Sky

> Track Sky's fees, revenue, TVL and active users with daily on-chain data across 14 chains. Compare Sky with other stablecoin issuers. Updated daily.

Source: [Sky on Token Terminal](https://tokenterminal.com/explorer/projects/makerdao). This page has no metric values. For current values, use the [Token Terminal API](https://tokenterminal.com/docs/api-reference/introduction) or the [MCP server](https://tokenterminal.com/docs/mcp/introduction).

- Token: SKY
- Sectors: Stablecoin issuers
- Chains: arbitrum, avalanche, base, bsc, ethereum, gnosis, manta, near, optimism, polygon, solana, starknet, unichain, zksyncera

## About

### What it is

Sky is a non-custodial stablecoin protocol built on Ethereum. Sky (previously MakerDAO) was founded by Rune Christensen and launched in 2015.

### Who uses it

SKY tokenholders own and govern the protocol. They currently take all of the total interest and PSM fees paid by borrowers (revenue). Sky’s investors include a16z, Polychain, IOSG Ventures, etc.

### How it works

Overcollateralized borrowers deposit funds into Sky and receive DAI stablecoin.

## Metrics

Token Terminal tracks these metrics for Sky daily. Each page has a chart with the full history.

- [Price](https://tokenterminal.com/explorer/projects/makerdao/metrics/price)
- [Pre-migration price](https://tokenterminal.com/explorer/projects/makerdao/metrics/pre-migration-price)
- [Fully diluted market cap](https://tokenterminal.com/explorer/projects/makerdao/metrics/market-cap-fully-diluted)
- [Circulating market cap](https://tokenterminal.com/explorer/projects/makerdao/metrics/market-cap-circulating)
- [Token trading volume](https://tokenterminal.com/explorer/projects/makerdao/metrics/token-trading-volume)
- [Token turnover (fully diluted)](https://tokenterminal.com/explorer/projects/makerdao/metrics/token-turnover-fully-diluted)
- [Token turnover (circulating)](https://tokenterminal.com/explorer/projects/makerdao/metrics/token-turnover-circulating)
- [Token holders](https://tokenterminal.com/explorer/projects/makerdao/metrics/tokenholders)
- [Circulating supply](https://tokenterminal.com/explorer/projects/makerdao/metrics/token-supply-circulating)
- [Total value locked](https://tokenterminal.com/explorer/projects/makerdao/metrics/tvl)
- [Outstanding supply](https://tokenterminal.com/explorer/projects/makerdao/metrics/outstanding-supply)
- [Bridged supply](https://tokenterminal.com/explorer/projects/makerdao/metrics/bridged-supply)
- [Fees](https://tokenterminal.com/explorer/projects/makerdao/metrics/fees)
- [Supply-side fees](https://tokenterminal.com/explorer/projects/makerdao/metrics/fees-supply-side)
- [Revenue](https://tokenterminal.com/explorer/projects/makerdao/metrics/revenue)
- [Expenses](https://tokenterminal.com/explorer/projects/makerdao/metrics/expenses)
- [Operating expenses](https://tokenterminal.com/explorer/projects/makerdao/metrics/operating-expenses)
- [Token incentives](https://tokenterminal.com/explorer/projects/makerdao/metrics/token-incentives)
- [Earnings](https://tokenterminal.com/explorer/projects/makerdao/metrics/earnings)
- [P/F ratio (fully diluted)](https://tokenterminal.com/explorer/projects/makerdao/metrics/pf-fully-diluted)
- [P/F ratio (circulating)](https://tokenterminal.com/explorer/projects/makerdao/metrics/pf-circulating)
- [P/S ratio (fully diluted)](https://tokenterminal.com/explorer/projects/makerdao/metrics/ps-fully-diluted)
- [P/S ratio (circulating)](https://tokenterminal.com/explorer/projects/makerdao/metrics/ps-circulating)
- [Treasury](https://tokenterminal.com/explorer/projects/makerdao/metrics/treasury)
- [Treasury (net)](https://tokenterminal.com/explorer/projects/makerdao/metrics/treasury-net)
- [Active users (daily)](https://tokenterminal.com/explorer/projects/makerdao/metrics/user-dau)
- [Active users (weekly)](https://tokenterminal.com/explorer/projects/makerdao/metrics/user-wau)
- [Active users (monthly)](https://tokenterminal.com/explorer/projects/makerdao/metrics/user-mau)
- [Active addresses (daily)](https://tokenterminal.com/explorer/projects/makerdao/metrics/active-addresses-daily)
- [Active addresses (weekly)](https://tokenterminal.com/explorer/projects/makerdao/metrics/active-addresses-weekly)
- [Active addresses (monthly)](https://tokenterminal.com/explorer/projects/makerdao/metrics/active-addresses-monthly)
- [Core developers](https://tokenterminal.com/explorer/projects/makerdao/metrics/active-developers)
- [Code commits](https://tokenterminal.com/explorer/projects/makerdao/metrics/code-commits)
- [Transaction count (contracts)](https://tokenterminal.com/explorer/projects/makerdao/metrics/transaction-count-contracts)
- [Gas used](https://tokenterminal.com/explorer/projects/makerdao/metrics/gas-used)
- [Average fees per user (AFPU)](https://tokenterminal.com/explorer/projects/makerdao/metrics/afpu)
- [Average revenue per user (ARPU)](https://tokenterminal.com/explorer/projects/makerdao/metrics/arpu)
- [Take rate](https://tokenterminal.com/explorer/projects/makerdao/metrics/take-rate)

## Links

- [governance](https://forum.sky.money/)
- [github](https://github.com/sky-ecosystem)
- [twitter](https://x.com/SkyEcosystem)
- [discord](https://discord.com/invite/RBRumCpEDH)
- [etherscan](https://etherscan.io/token/0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2)
- [website](https://sky.money/)