The brand rebranding caused "confusion", and the founder of Maker wants to change the name back?

Original title: "Brand remodeling causes "confusion", Maker founder wants to change the name back..."

Original author: Azuma, Odaily Planet Daily

On September 18, the old DeFi leader Maker officially completed its brand upgrade and remodeling. While changing its name to Sky, it also launched the token migration from "MKR to SKY" and "from DAI to USDS".

After more than a month, perhaps because the original brand Maker has long been deeply rooted in the hearts of the people, and the original tokens MKR and DAI have long accumulated a wide range of application scenarios, the migration process of the protocol to the new brand and new token does not seem to be smooth.

Dune data shows that as of the time of writing, about 900 million DAI have completed the migration to USDS, accounting for only about 15.5% of the current total supply of DAI (5.8 billion); about 91,880 MKR have completed the migration to SKY, accounting for only 10.6% of the current MKR circulation supply (868,478).

At the same time, many users also expressed confusion in the community about the utility (such as Seal), function (such as Activation), supply (such as Early Bird airdrop), and ecological positioning (such as the relationship with various Stars such as Spark) of the new tokens under the new brand. They believe that the rebranding has blurred the positioning of the protocol and has a negative impact on the cohesion of community consensus.

· Odaily Note: For the answers to the above concepts, please refer to "Founder's Handwriting: What's the Next Step After Maker Transforms into Sky?" .

From the price trend, the market is not interested in Maker's upgrade, especially considering that old DeFi protocols such as Aave and Uniswap have had long or short-term outstanding performances recently, the price of MKR (which has a fixed ratio exchange relationship with SKY, so it can still reflect the market value of the protocol) has been falling.

Last night, perhaps realizing that the brand reshaping was not successful enough, Maker founder Rune Christensen published a long article on his personal social media, discussing the possibility of changing the brand back to Maker...

When talking about the "information confusion" in the community, Rune said: "Using Sky as the name of the protocol, token and front-end does add some confusion. Now we know more than ever that the DeFi community loves the Maker brand. Users still trust this brand and the stability and security it represents... Many people still promise to hold MKR instead of upgrading to SKY."

In this regard, Rune briefly outlined his initial idea for restarting the Maker brand. In short, Rune hopes to position Maker as a decentralized protocol on the back end, and Sky as a front-end DeFi product based on Maker. Under this framework:

· Maker will continue to support USDS, DAI and various StarDAOs as a decentralized protocol on the back end, and MKR will still be the only governance token of Maker. The community can decide whether to continue to maintain the original image of the Maker brand or redesign it.

· Sky will exist as a front-end that directly serves DeFi users. Sky will be positioned alongside Spark, both of which are front-end applications based on the Maker protocol, but their focus is different - Sky only focuses on the minting/redemption of USDS stablecoins, while Spark is a lending market that requires collateral management.

· Under this framework, USDS will not change, and governance support will still be provided by Maker and MKR.

It can be seen that Rune now wants to retain the new brand Sky, but is unwilling to give up the influence accumulated by the Maker brand in the past... Under this assumption, the only thing that Rune has not mentioned seems to be the new governance token SKY, and it seems that Rune wants to replace the utility of SKY with MKR.

After explaining his own ideas, Rune also mentioned that he hoped the community would vote on the potential possibility of restarting the Maker brand. The options proposed that year are as follows:

· Option 1: Continue to use Sky as the core brand and adhere to the latest brand upgrade strategy.

· Option 2: Restart Maker as the core brand with the original image and restore MKR as the only governance token of the DAO.

· Option 3: Reactivate the Maker brand with a new image, keep the classic design of the original brand, but make minor modifications to better "align" USDS and each Star.

Rune finally emphasized that restoring the Maker brand is currently only in the initial conceptual stage, and it will still take some time for the community to fully discuss it, and then a community conference call is planned for October 25. After the community conference call, Rune will integrate all feedback and advance this issue to a community vote (requires multiple rounds). The vote is scheduled to start on October 28. If approved, a multi-option vote will be implemented within the week starting on November 4.

Looking at the history of the cryptocurrency industry, brand reshaping is not uncommon, but operations like Maker's "first completely abandoning an original brand that has accumulated a very high reputation, and then regretting and wanting to change it back" are rare... Odaily Planet Daily will continue to pay attention to the latest developments of this incident and follow up on the report in a timely manner.

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