Post #2643

Maker DAO has silently rebranded to Sky Protocol and its stablecoin $DAI to $USDS, and very few people have noticed. Recently, Ethena's USDe has taken DAI’s spot as the 3rd biggest stablecoin, and its TVL has crossed $10B, while Sky’s is only $6.8B. But Sky still generates around 50% more fees than ENA, and companies & DAOs generate the most fees i.e. they have users willing to pay for the service they provide. if you compare, SKY is still far ahead of ENA in few major metrics. Fees(30d) Sky - 44M ENA - 30M Stablecoin senders SKY - 38.7K ENA - 15.5k Sky is a long established protocol with consistently stable growth, having weathered all market conditions, and $DAI has never Depegged till date. In contrast, ENA is still in its early stages and has many tests to pass before finding and settling to it's ground. But from price perspective, the most important metric is volume. Rn ENA is the favorite stablecoin Narrative of CT, with volume exceeding $10B, while Sky’s volume is still less than 0.5% of that.