Sky is a rebranded version of MakerDAO, one of the largest and longest-running DeFi lenders.

Quotes that support claims

The core contributor team behind Grove — Mark Phillips, Kevin Chan and Sam Paderewski — had previous experiences at Deloitte, Hildene Capital Management, BlockTower Capital and Citibank before transitioning to DeFi.

Sky rebranded from MakerDAO, the organization behind the longstanding Ethereum-based algorithmic stablecoin DAI, and rolled out a new stable asset called Sky Dollar (USDS) in August 2024.