MakerDAO Sky smart contracts
Summary
MakerDAO implements a rebranded version of the MKR token and an immutable converter with a fixed conversion rate. The converter functions by minting and burning tokens. The new governance token is ERC-20 compliant and the converter allows for permissionless conversion between MKR and SKY tokens. -- "The Maker Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by “Maker Governance.” Maker Governance is the community organized and operated process of managing the various aspects of the Maker Protocol. Dai is a decentralized, unbiased, collateral-backed cryptocurrency soft-pegged to the US Dollar. Resistant to hyperinflation due to its low volatility, Dai offers economic freedom and opportunity to anyone, anywhere.
