Gate News message, April 28 — Sky has proposed a comprehensive reform of its treasury income allocation mechanism, according to founder Rune Christensen. With Genesis Capital transferred to Grove, Sky has formally concluded its genesis capitalization phase, ending the previous ad-hoc, governance-decided capital deployments.
The proposal simplifies the Treasury Management Function (TMF) from a five-step conditional waterfall structure to a four-step fixed allocation framework. The new architecture covers four components: security and maintenance, overall reserve capital, intelligent burn engine, and USDS staking rewards. Multiple legacy mechanisms will be eliminated under the new system.
The treasury overhaul comes as Sky rapidly expands; USDS supply has climbed to approximately $11.6 billion, making it the third-largest stablecoin. The Sky community previously authorized the stablecoin incubator Obex to deploy up to $2.5 billion, and Sky launched native USDS on Avalanche in April.
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