OKX Completes MKR Token Migration and Lists SKY for Spot Trading
According to its official announcement, OKX finalized the MKR-to-SKY swap and confirmed the upcoming launch of SKYUSDT perpetual contracts on September 11, 2025, expanding its offerings across web, app, and API platforms.
OKX confirmed in an official statement that it has completed the MKR token swap, with SKY assets now visible in user accounts. SKY deposits opened on September 2, 2025, and pre-ordering was scheduled for September 11 from 6:00 PM to 7:00 PM (UTC+8), followed by the SKY/USDT spot trading launch at 7:00 PM and SKY withdrawals at 8:00 PM. Additionally, OKX announced the official launch of SKYUSDT perpetual contracts at 7:30 PM (UTC+8) on September 11, 2025, available via web, app, and API. These measures complement the planned SKY/USD and SKY/USDC listings, reflecting OKX’s phased rollout strategy to support liquidity and market adoption.
- Token Migration: The process of transferring a cryptocurrency from one blockchain or contract system to another, often accompanied by rebranding or upgrades.
- Spot Trading: The purchase or sale of a financial instrument, such as cryptocurrency, for immediate delivery on the open market.
- Perpetual Contracts: A type of derivative in cryptocurrency trading that allows users to speculate on price movements without an expiry date, often traded with leverage.