MKR Soars 50% Following Thwarted Governance Attack

The governance token of the DeFi lending protocol Sky, formerly known as MakerDAO, has skyrocketed in the past week after a failed governance attack. SKY and MKR have risen by 70% in the past two weeks, according to Coingecko data.

The rally comes after Sky’s co-founder Rune Christensen revealed last week that the platform’s governance facilitators had prevented a “laughable governance attack” intended to push a forceful takeover.

Meanwhile, Sky has partnered with EVM-identical Layer 1 (L1) blockchain Berachain to push the cross-chain expansion of its USDS stablecoin on the network through Polaris, its native autonomous agent framework.