Crypto
Sky cuts token buyback by 87 percent to boost USDS, DAI reserves
Decentralised finance protocol Sky will sharply reduce the size of its token buyback programme to bolster stablecoin reserves. DL News reported that a digital cooperative operating Sky voted on March 12 to cut daily buybacks to $37,600 from $300,000, an 87 percent reduction, for three months. Founder Rune Christensen cited the war in Iran. Critics said the move came late as resources backing USDS and DAI have been shrinking.
