Sky Q1 loss of $5 million as incentive USDS interest expense increased 102%

Odaily Planet Daily News According to a report prepared by Steakhouse Financial contributors, Sky (formerly MakerDAO) lost $5 million in the first quarter of this year due to a doubling of interest paid to token holders. This loss is in stark contrast to the previous quarter, when Sky achieved a profit of $31 million. The main reason for the 102% increase in interest expenses is that Sky decided to use higher incentives to drive users to use its newly launched stablecoin Sky Dollar (USDS) to replace the existing DAI.