SINGAPORE — Rune Christensen, the founding father of Sky, previously named MakerDAO, announced at the Solana Breakpoint convention this day that the DeFi protocol, which is identified for its decentralized stablecoin, will roll out on Solana by device of interoperability protocol Wormhole.

“The USDS stablecoin, the SKY governance token, and then the tokenized beget of the financial savings price [are] all going to initiate on Solana with Wormhole,” Christensen stated in Singapore on Friday. “And to accompany that, there would possibly be a mountainous liquidity incentive program that could offer SKY tokens to other folks that suppose the full assorted DeFi protocols in Solana that integrate USDS and SKY.”

Read more: Solana’s Boost Metrics, Along with Stablecoin Supply, Proceed to Grab Off

Christensen’s announcement comes right over a 365 days after he hinted at deploying the DeFi protocol on Solana.

Closing September, Christensen published a post in MakerDAO’s governance forum with a subsection entitled, “Solana as basically the most promising codebase.”

In the post, Christensen gave three the reason why he thought Solana became as soon as the blockchain of preference: the technical quality of its codebase, its resilience, as confirmed by the near in which it weathered the crumple of FTX, and examples of forks within the Solana codebase that had been adapted to behave as appchains.

Read more: Why MakerDAO’s Token Is Lagging In the lend a hand of Others, Despite Protocol’s Great Revenue

MakerDAO at the muse emerged on Ethereum in 2015.

“Sky is going to carry mammoth DeFi energy to Solana,” Christensen told attendees at Breakpoint 2024. “It’s going to be imaginable to allocate that collateral into DeFi protocols in Solana and assist with things esteem bootstrapping the RWA ecosystem in Solana.”

In step with Christensen, unlimited native one-to-one conversion between Sky’s USDS and Circle’s USDC would possibly be on hand on Solana. SKY and assorted token rewards will additionally be on hand natively on the blockchain.

Read more: SOL on Path to Flip ETH, Says Multicoin Capital’s Kyle Samani

MakerDAO is the sixth-largest DeFi protocol by total locked value, with $5.5 billion, sooner than decentralized commerce Uniswap and liquid staking provider Rocket Pool, according to DefiLlama.