Maker Rebrands as Sky and Introduces USDS Stablecoin with SKY Governance Token

Daily Top Performer — IDEX (IDEX)

The SPX index was up by 0.16%, with six out of its 11 sectors finishing higher, led by technology, financials, and real estate. Investors are closely watching Nvidia's upcoming earnings report to assess the tech rally's sustainability and AI demand. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 1.95% and 3.98%, respectively in the past 24 hours.

Today's top performer is IDEX, which surged 37.8% following the announcement of its upcoming Mainnet launch as the first Omnichain Perpetuals DEX.

IDEX (IDEX), launched in 2017, is a decentralized exchange with centralized features for faster transactions, operating on Ethereum, Binance Smart Chain, and Polkadot. It uses order books instead of an automated market maker model and requires KYC verification. The IDEX token is used for staking to validate transactions. IDEX is launching its Mainnet soon, with Market Makers starting onboarding to the production version. This is the final step before IDEX, the first Omnichain Perpetuals DEX, goes live. The launch date will be announced soon.

Check Out the Latest Prices, Charts, and Data of IDEXUSDT Perp!

Talk of the Town:

Maker DeFi lending protocol has rebranded to "Sky" and renamed its stablecoin from Dai to USDS. Alongside this, it introduced the Sky (SKY) governance token, replacing the Maker (MKR) token. The rebranding aims to simplify and broaden DeFi accessibility, featuring innovations like Sky Token Rewards (STRs) and the Sky Savings Rate (SSR). Maker's SubDAOs are now called "Sky Stars," maintaining autonomy while connecting through the Sky ecosystem. The largest DeFi lending protocols include Spark, the third-largest with a $2.66 billion TVL, trailing Aave, the leader in the sector.

Check Out the Latest Prices, Charts, and Data of MKRUSDT Perp and MKR/USDT Spot!

Bitcoin Spot ETF Flows:

Yesterday, the BTC Spot ETF data shows a total flow of -$127.1 million, with -$18.3 million attributed to GBTC and -$108.8 million to non-GBTC ETFs.

Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot!

Airdrop to Watch:

KAYEN Protocol is launching a SportFi ecosystem on the Chiliz blockchain and is the first official DEX with plans for a meme launchpad. Their current campaign, Kayen League, involves completing social and transaction missions to earn points that will be converted into the KAYEN airdrop at the Token Generation Event (TGE). Participants can earn points by connecting their wallet, Twitter, and Discord, and by completing community tasks and transactions.