According to Sky Protocol, formerly MakerDAO, its ongoing buyback program has exceeded $106 million USDS in total expenditure, reflecting a strategic push to reduce circulating SKY tokens and potentially strengthen market confidence.
Sky Protocol, formerly known as MakerDAO, spent 8.5 million USDS in January 2025 to repurchase 130 million SKY tokens. Since initiating its buyback program in February 2025, total spending has surpassed 106 million USDS. This initiative aims to decrease the circulating supply of SKY tokens as part of a broader market support strategy, potentially influencing token value and investor sentiment.