Sky token jumps 10% after governance vote causes bullish tilt in market dynamics

The protocol has repurchased about 1.83 Billion SKY tokens with USDS while a March 2 governance proposal reduced staking emissions and expanded credit infrastructure around its USDS stablecoin. What to know : Sky’s SKY token rose nearly 10 percent after a governance proposal cut staking emissions, expanded USDS credit infrastructure and coincided with an ongoing token buyback program. The new plan reduces SKY staking rewards to about 838.18 million tokens over 180 days, while buybacks funded with USDS have already spent roughly $114.5 million to remove about 1.83 billion tokens from circulation. With about 67 percent of SKY now staked and new “Launch Agents” onboarded to grow USDS credit markets, Sky’s changes reflect a broader DeFi shift toward lower emissions and revenue-funded token buybacks to limit dilution.