Sky Protocol has proposed a temporary reduction in the programmatic SKY buyback ratio from 75% to 7.5% of net profit for three months. This move aims to bolster the protocol's capital base and support the USDS stablecoin. Despite the reduction, SKY staking rewards will remain unchanged, funded by existing reserves. The circulating supply of USDS has surpassed $11 billion. Additionally, the Sky Savings Rate has been decreased by 25 basis points to 3.75% to reflect recent interest rate changes. Voting on the proposal will conclude at 16:00 (UTC) on March 12th.
Sky Protocol Proposes Temporary Reduction in SKY Buyback Ratio
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