Maker (MKR) to Sky (SKY) Upgrade

Here’s everything you need to know about the upcoming MKR token redenomination and rebranding to SKY on Hata.

Hata is fully supporting the Maker (MKR) token swap to the new Sky (SKY) token. This process involves a redenomination at a ratio of 1 MKR = 24,000 SKY. Hata will manage the technical aspects of this upgrade for all users holding MKR in their Hata wallets.

1. What is the MKR to SKY upgrade?

The MKR to SKY upgrade (1 MKR = 24,000 SKY) makes SKY the new governance token, inheriting all functions of MKR. SKY holders can vote on Sky Ecosystem proposals, delegate voting power, and earn staking rewards via the Sky.money app. By supplying SKY to the protocol’s Staking Engine, users can access rewards, create positions, borrow USDS, and delegate voting power. For more information, please refer to SKY’s official website here.

2. Do I need to do anything to convert my MKR to SKY?

No. If you wish to convert your tokens, you don't need to do anything. Simply hold your MKR in your Hata wallet, and we will handle the conversion for you automatically.

3. What if I want to keep my original MKR tokens?

If you do not want to participate in the swap, you must withdraw your MKR tokens from your Hata wallet to a personal external wallet before 14th September 2025, 14:30 (GMT+8). Any MKR remaining in your Hata wallet after this time will be included in the automatic upgrade to SKY.

4. What is the timeline for this event?

• Suspension Begins: 14th September 2025, 14:30 (GMT+8).

• Upgrade Period Ends: 18th September 2025, 11:00 (GMT+8).

During this window, certain functions for MKR will be unavailable.

5. Why can’t I trade, deposit, or withdraw my MKR?

To ensure the upgrade process is smooth and secure for everyone, we will temporarily suspend all trading (on Exchange, Instant Buy/Sell), Auto-Invest plans, deposits, and withdrawals for MKR starting from 14th September 2025, 14:30 (GMT+8).

6. What will happen to my open MKR trade orders?

All open trade orders for MKR/MYR will be automatically cancelled at the start of the suspension period.

7. How does this affect my Auto-Invest plan containing MKR?

If your Auto-Invest plan includes MKR, the scheduled purchase for MKR will be skipped during the upgrade period. Purchases for other assets in the same plan (e.g., BTC, ETH) will proceed as normal. We suggest terminating plans with MKR and recreating a new plan with SKY after 18th September 2025, 11:00 (GMT+8).

8. What happens if I accidentally deposited MKR into my Hata wallet after the deadline?

MKR deposits made after 14th September 2025, 14:30 (GMT+8) will not be automatically credited to your account. Please contact our Customer Support team to arrange for the funds to be returned to your originating address.

9. When can I start trading the new SKY token?

Trading for SKY on Hata will be enabled after the upgrade is complete. This will be available after 18th September 2025, 11:00 (GMT+8). Your new SKY balance will also be reflected in your wallet after this period.

10. Are my funds safe?

Yes. Your assets are secure throughout this entire process. We are following standard procedures to ensure the integrity of the upgrade.