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

Odaily News According to a report compiled by contributors to Steakhouse Financial, Sky (formerly MakerDAO) lost $5 million in the first quarter of this year due to a doubling of interest payments to token holders.
The 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 was Sky’s decision to push users to use its newly launched stablecoin Sky Dollar (USDS) through higher incentives to replace the existing DAI.