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      Sky Ecosystem Completes First Token Burn, Reducing Supply by 2.86 Million SKY Tokens

      Sky Ecosystem has successfully completed its inaugural token burn, permanently removing 2.86 million SKY tokens from circulation. This action was funded by purchasing the tokens on the open market using 5% of the monthly net protocol surplus, marking a significant step in the protocol's strategy to enhance its economic model.

      The burn signifies the activation of a new mechanism linking the performance of the protocol to the reduction of the SKY token supply. This development is part of Sky's ongoing efforts to stabilize and improve the value of its decentralized stablecoin, which has been upgraded from the MakerDAO framework.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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