We're excited to announce that SKY token is now available for trading on CoinJar!

SKY is the governance token of the Sky Protocol, formerly known as MakerDAO. This represents a significant upgrade of one of DeFi's most established platforms, designed to enhance accessibility, scalability, and user rewards. 

Why We're Listing SKY

SKY combines the stability of MakerDAO's foundation with innovative features designed for the next generation of DeFi. Its focus on accessibility aligns with our mission to make crypto simple for everyone.

Get Started

Trading SKY is convenient on CoinJar. Simply log into your account and start trading with access to real-time data and market statistics.

Swap MKR for SKY

You can now swap MKR for SKY on CoinJar and trade both tokens on CoinJar Exchange.

Please note that MKR will be delisted from CoinJar on September 14, 2025 or sooner if market conditions change.

After this date, you will no longer be able to swap MKR for SKY on CoinJar. Normal fees apply. Keep in mind that exchanging one asset for another may create a taxable event.

Specific risks associated with DeFi tokens

Decentralised Finance (or 'DeFi') tokens are crypto-assets linked to financial applications and protocols built on decentralised blockchain technology. DeFi tokens carry the following risks:

Smart contract risk: DeFi relies heavily on smart contracts. Even a minor coding error or oversight can lead to a contract being exploited, potentially resulting in significant losses for DeFi tokens. 

Regulatory risk: DeFi operates in a decentralised manner, often without intermediaries or financial crime controls. Regulatory bodies across jurisdictions might introduce new regulations impacting the use, value, or legality of certain DeFi protocols or assets.

Rug-pulls / Exit scams: Some DeFi projects might be launched by anonymous or pseudonymous teams, increasing the risk of "rug pulls" where developers abandon the project and withdraw funds, leaving investors with worthless tokens.

Data/oracle risk: DeFi protocols often rely on external data sources or 'oracles. Manipulation or inaccuracies in these data sources can lead to unintended financial outcomes within the protocols.

Protocol complexity: The complexity of some DeFi protocols can make it difficult for average users to fully understand the mechanisms and associated risks.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits.

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