SKYRank #61Exchange Sky (SKY)
Exchange Sky (SKY), formerly MKR, on Ethereum: you need a 0x address and ETH for gas. Do not send MKR instead of SKY — they are different tokens.
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Sky on the market
Trading volume of Sky (SKY) over the past 24 hours is $15.82M. The market values SKY at $1.63B, ranked #61 by market cap.
About Sky
- Rank #61
- Networks: 1
Sky (SKY) is the governance token of Sky Protocol, the name MakerDAO has used since 2024. The protocol issues the USDS stablecoin and still supports the older DAI, while SKY holders vote on its parameters and can stake the token. SKY replaced MKR.
SKY is swapped to get the token into your own Ethereum wallet for staking and voting, or the other way round, to turn SKY earned as protocol rewards into another coin.
SKY is an ERC-20 token on Ethereum, contract 0x56072c95faa701256059aa122697b133aded9279. It is received on a regular Ethereum address: 0x followed by 40 hexadecimal characters, 42 in total. Letter case does not matter, and Ethereum has no memo — the address is enough.
MKR and SKY are separate contracts. MKR converts to SKY in one direction only, through the protocol's converter: 1 MKR gives 24,000 SKY. Since September 2025 the conversion carries a delayed upgrade penalty, which grows by 1 percentage point every three months. There is no way to convert SKY back into MKR. MKR sent where SKY is expected will not be credited as SKY.
Staked SKY sits in a protocol contract rather than in your wallet balance. You cannot send or swap those tokens until you withdraw them from staking to your own address.
The fee for a SKY transfer is paid in ETH. Without ETH in the wallet, incoming SKY cannot be sent on. Sky ecosystem tokens also exist on L2s with the same 0x addresses, so check that the recipient's wallet or exchange expects SKY on Ethereum specifically. If the token does not show up, add it by its contract address: there are many fake tokens with the SKY ticker.
An Ethereum block comes every 12 seconds, and recipients usually wait for a few more confirmations. Crediting SKY takes minutes.
How to exchange Sky
- 1
Pick Sky (SKY) in the "You send" field and enter an amount.
- 2
Choose the coin and network you want to receive. The rate is calculated automatically.
- 3
Enter the recipient's wallet address. No email, no phone, no documents.
- 4
Press "Exchange" and send Sky to the address you get.
- 5
After the route is confirmed, funds are sent to the address you provided; timing depends on the provider and network.
- 6
Keep the exchange code in case you need to check the status or contact support.
Sky networks
The receiving address must be on the same network you chose in the form. An address from another network won't work — the transfer will fail.
FAQ
Didn't find an answer? Open support and give your exchange code — we'll find the operation and help you sort it out.
SupportNo. Registration, verification and documents are not required — all you need is the wallet address the funds will arrive at.
Available networks: Ethereum. The network is chosen in the exchange form — make sure the recipient address belongs to the same one.
An Ethereum address: 0x followed by 40 characters. Any wallet with ERC-20 support will do — the same address that used to hold MKR works. Check that the recipient expects SKY on Ethereum, and not on one of the L2s with the same addresses.
An Ethereum block comes every 12 seconds, and recipients wait for a few confirmations: crediting SKY takes a few minutes. The rest depends on the selected route.
Any coin in the catalogue — pick it in the "You receive" field. Popular Sky directions are listed further down this page.
No, they are different tokens with different contracts. First convert MKR to SKY through the Sky protocol converter: it works in that direction only, and since September 2025 a growing penalty applies to late upgrades.
Most likely the wallet holds no ETH: fees for ERC-20 transfers are paid in ETH. If your SKY are staked, withdraw them from staking to your own address first.
Choose the coins, networks and amount. The service compares available offers so you can select a route and enter your receiving address. Review the terms, create the exchange and send funds to the provided address on the specified network. Processing is automatic, and you can track the exchange with its code in the same interface, without registering.
Open support on the site and provide your exchange code. This lets us find the transaction, check its stage and help with a delay, an error or the terms of a possible refund. Keep your code and transfer details. No account is needed to contact us; never send private keys or a seed phrase.
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