Sky, the decentralized finance (DeFi) lending protocol formerly known as MakerDAO, is moving to overhaul how its treasury allocates net revenue now that the founding phase of capital deployment has formally ended.
In a forum post, founder Rune Christensen laid out the rationale for simplifying the Treasury Management Function (TMF), arguing that the recent transfer of Genesis Capital to Grove marks Sky's permanent exit from the Genesis Capitalization phase. Genesis Capital was the bootstrap funding mechanism Sky used to seed new agents during the expansion of its Sky Agent Network.
The "irregular, governance-determined capital deployments" of the founding period are over, the post said, leaving behind a set of expenses that are rules-bound, predictable, and capped as a fixed percentage of revenue.
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