DeFi Savings Protocol Sky Slumps to $5M Q1 Loss as ‘Savings Rate’ Erases Profit

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DeFi savings protocol Sky posted a first-quarter loss of $5 million after interest payments to token holders more than doubled, according to a report created by Sky contributors from Steakhouse Financial. The loss is a stark turnaround from the previous quarter, when Sky, formerly known as MakerDAO, registered a $31 million profit. The reason for […]