Live trackerSupply + migration re-read from Ethereum RPC · last update May 24, 2026
MrNasdog Pressure Framework · Tier 1
SKY, monitored: revenue-linked buyback, governance-sensitive.
The Endgame migration is 99.95% complete (1 MKR : 24,000 SKY). USDS stability fees drive SKY buyback via the surplus buffer. The closest token in our coverage to a real revenue-linked structural buy.
MKR → SKY migration (Ethereum RPC)
99.95%
of MKR converted to SKY · ~478,853 MKR remaining
SKY total supply
23.46B
Conversion ratio
1 MKR : 24,000
MKR still un-upgraded
~478,853
Inflation model
skyMint (discretionary)
Buyback model
Surplus Buffer / Smart Burn
Status
Migration tail
Sell signal
skyMint inflation
modest
Tag BVesting
0 (none historically)
Sky Foundation / SubDAOs
watching
Tag BAll sell pressure is governance-discretionary
Buy signal
Surplus Buffer buyback
variable
Tag AOther burn mechanisms
—
Protocol demand
small
Real revenue-linked buy pressure
Confidence. High: SKY total supply (on-chain). High: migration ratio + status (Sky docs). Variable: surplus buffer mechanics depend on USDS stability fees and demand. Not enumerated: per-SubDAO multisig balances.