Sky, the newly rebranded successor to MakerDAO, has approved a major expansion initiative that allocates up to $2.5 billion in USDS to support crypto yield projects developed through Obex, a new Web3 incubator that launched with a $37 million fundraising round led by Framework Ventures, LayerZero, and Sky itself.
The move marks one of the largest capital authorizations ever committed to real-world-asset-backed stablecoin development, signaling Sky’s intention to play a central role in the next phase of decentralized finance.
At the core of the strategy is Obex’s incubation program, which will mentor and fund teams building yield-generating stablecoins directly on the Sky Protocol. These projects will be designed to tap into high-quality real-world assets, including tokenized infrastructure, energy-related assets, and fintech lending portfolios, to create stable, scalable yield mechanisms that integrate with DeFi.
Teams that successfully pass through the incubation cycle and meet Sky’s institutional-grade risk standards can access additional capital from the newly authorized $2.5 billion pool. This structure is designed to push the RWA-backed stablecoin sector toward more rigorous compliance, transparency, and risk-management practices.
Sky, formerly known as MakerDAO, is best known for issuing the long-standing DAI stablecoin along with its newer USDS token. The rebrand reflects an effort to evolve the protocol into a broader, more modular ecosystem, and this new partnership with Obex illustrates how aggressively Sky intends to expand its footprint in the RWA and stablecoin markets.
The collaboration positions Sky as one of the most influential players in the race to build the next generation of institution-ready, yield-driven stablecoin products.
