Sky's $75M Buyback Plan Boosts SKY Token Price 8% in 6 Months

Sky, a crypto protocol formerly known as Maker, has invested $75 million in a token buyback program over the last six months, resulting in an 8% increase in its SKY token price since February. The buyback strategy involves using stablecoin USDS to repurchase SKY tokens, reducing the supply and supporting its market value. Token buybacks are a common technique among crypto projects to enhance token value by limiting supply through removal of tokens from the market.

Crypto protocol Sky, formerly known as Maker, has spent $75 million on a token buyback program over the last six months, resulting in an 8% increase in its SKY token price since February. The buyback strategy involves using stablecoin USDS to repurchase SKY tokens, reducing the supply and supporting its market value. This technique is common among crypto projects to enhance token value by limiting supply through the removal of tokens from the market.

Sky's buyback activity began in late February, with the platform spending $4.28 million that month on its program. Since then, it has spent a total of 75 million USDS, with the largest month for buybacks being March, when $18.31 million was spent. The token buyback activity has been effective, as SKY's price has increased by 8.1% since February, trading just over 6.85 cents as of September 2, 2025.

Sky's buyback program has been successful in boosting the token's price, despite the broader market's fluctuations. In comparison, tokens of similar platforms Uniswap and Aave have seen recoveries of 6% and 25.8% respectively since Sky started its buyback program.

References:
1. [https://www.coinglass.com/ru/news/644330](https://www.coinglass.com/ru/news/644330)