Coinbase to Support Maker Token Migration from MKR to SKY in January 2026

The exchange will convert MKR holdings to SKY at a 1:23,520 ratio, with trading paused during the January migration window.

SKY

Summary

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Terms & Concepts
  • Token Migration: The process of transferring a cryptocurrency from one blockchain or token standard to another, often with a conversion ratio.
  • MKR (Maker Token): A governance token used within the MakerDAO ecosystem to manage the Maker Protocol, which supports the DAI stablecoin.
  • Self-custody: Holding cryptocurrency in a private wallet controlled solely by the user rather than on an exchange or custodial service.