Sky (SKY) Protocol Experiences Strategic Expansion Amid Mixed Market Performance
Recent Price Action and Market Metrics
Sky (SKY) is trading at $0.069072 USD with a 24-hour trading volume of $18,335,928 USD, down 2.96% in the last 24 hours. The token holds a market cap of $1,590,454,135 USD at rank #42. Over a longer timeframe, SKY has declined 6.10% in the last 7 days, underperforming the global cryptocurrency market which is down 4.60%.
Major Institutional Partnerships and RWA Integration
Better Home & Finance Holding Company has partnered with Framework Ventures to access up to $500 million in credit through the Sky stablecoin ecosystem, with Framework Ventures acquiring a $45 million equity stake in Better announced on February 24, 2026. Better will operate as a "Star" within the Sky network and is expected to reduce its funding costs by over 100 basis points annually, with plans to scale monthly loan originations from $500 million to over $1 billion by 2026.
Ecosystem Expansion and Strategic Shifts
On February 23, 2026, Keel announced an expanded mandate, moving beyond its initial Solana-only focus to pursue opportunities in both on-chain and traditional finance, leveraging the new Sky Halo framework. Keel will concentrate on Halo-enabled deployment, RWA expansion into new networks, and serving as institutional DeFi infrastructure.
Protocol Governance and Technical Updates
The Sky DAO approved the Atlas Edit Weekly Cycle Proposal on February 16, 2026, which introduces a new Artifact for Launch Agent 7, an agent focused on building structured credit infrastructure. On February 12, 2026, an Executive Proposal was initiated to remove ALLOCATOR-NOVA-A from the Debt Ceiling Instant Access Module and reduce the Stability Fee for RWA001-A (6s Capital) from 9% to 0% to prepare for an orderly unwinding of the position.
Aggressive Buyback Program Continues
Sky Protocol executed a major treasury buyback, spending $1.9 million in USDS to repurchase 31.57 million SKY tokens over the past week, as part of a program that has deployed over $102 million since February 2025. The repurchased tokens are burned or sent to reserves, directly reducing circulating supply.
2026 Growth Projections
The Sky Frontier Foundation projects substantial growth for the Sky Ecosystem in 2026, estimating $611.5 million in Gross Protocol Revenue, an 81% year-over-year increase, and $157.8 million in Protocol Profits, a 198% year-over-year increase. The circulating supply of USDS is projected to nearly double to $20.6 billion in 2026, following a 74% supply growth in the previous year, making it the third-largest stablecoin and the largest yield-generating stablecoin.
Yield Offerings
USDS holders earn yield via the Sky Savings Rate (4.5% APY as of February 2026) and Sky Token Rewards (distributing SKY and other tokens).