DL News reported that Sky, a DeFi lending platform renamed from MakerDAO, recorded a record-high revenue of $124 million in the first quarter. However, immediately after the revenue announcement, its governance token, SKY, actually fell by 2.4%. This is because the foundation decided not to use the money earned for token buybacks and burning, but instead to allocate it to an emergency fund for unforeseen circumstances. The foundation stated, "This is a choice for long-term survival, and once the emergency fund target of $150 million is met, we will resume returning value to holders." However, the departure of investors who expected short-term profits is expected to continue for some time.
