Overcollateralized borrowers deposit funds into Sky and receive DAI stablecoin.

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

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.

governance

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Stablecoin issuers

Sky | Fees and revenues breakdown

# Sky Price Methodology

## 1. Overview

The Sky price metric tracks the historical USD prices of tokens associated with the Sky protocol (formerly MakerDAO). This metric provides end-of-day price data for Sky ecosystem tokens, serving as a foundational data source for various financial calculations including market capitalization, trading volume analysis, and portfolio valuations. The calculation retrieves price data from external market data providers and applies standardization and gap-filling techniques to ensure data quality and continuity.

## 2. Data sources

- **External price feeds**: End-of-day token price data from CoinGecko API, providing comprehensive market pricing for Sky ecosystem tokens
- **Token metadata registry**: Mapping data that connects Sky protocol token symbols and contract addresses to their corresponding CoinGecko identifiers
- **Historical price archives**: Backfilled historical price data to ensure complete time series coverage for analysis and reporting

## 3. Step-by-step calculation

### Component A: Token identification and mapping
- **Purpose**: Identifies all tokens associated with the Sky protocol and maps them to external price data identifiers
- **Logic**: The system retrieves token metadata for the Sky protocol, including token symbols, contract addresses, and names. Each token is then mapped to its corresponding CoinGecko identifier, which serves as the key for price data retrieval. This mapping ensures that price data can be accurately attributed to the correct Sky ecosystem tokens.
- **Key fields**: Token symbols like `SKY` and `DAI`, contract addresses, and CoinGecko API identifiers

### Component B: Price data retrieval
- **Purpose**: Extracts historical price data for identified Sky tokens from external market data sources
- **Logic**: Using the mapped CoinGecko identifiers, the system queries external price feeds to retrieve historical USD price data for each Sky token. The data includes daily price points with timestamps, ensuring comprehensive coverage of the token's price history.
- **Key fields**: Daily closing prices in USD, timestamps for each price point, and token identifiers

### Component C: Data standardization and quality assurance
- **Purpose**: Converts price data to consistent format and handles data quality issues
- **Logic**: Raw price data is standardized to USD format with consistent decimal precision. Timestamps are normalized to daily boundaries to ensure uniform time series representation. The system validates price data for reasonableness and identifies any potential data quality issues.
- **Key fields**: Standardized `price_usd` values, normalized `date` timestamps, and data quality flags

### Final aggregation
- **Combining components**: Token identification maps are joined with price data using CoinGecko identifiers, creating a comprehensive price dataset for all Sky ecosystem tokens
- **Currency conversion**: All prices are already in USD format from the source data, eliminating the need for additional currency conversion
- **Time aggregation**: Daily price boundaries are enforced, with each date representing the end-of-day price for that calendar date
- **Final calculation**: The metric applies a forward-fill strategy to handle missing price data points, where gaps in the time series are filled by carrying forward the last known price value. This ensures continuous price coverage while maintaining data integrity. The final output includes daily price records with protocol identifier, date, and USD price for each Sky ecosystem token.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Current USD value of a project's governance or native token.

SkySKY

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