A crypto whale identified as 0xc08…37ffb made significant transactions earlier today, withdrawing 8,000 ETH (valued at approximately $19.68 million) from Binance.

Shortly after, the whale deposited the ETH into Spark Protocol, borrowing 14 million DAI in return.

The borrowed DAI was swiftly exchanged for sUSDS, which was then pledged into Sky Protocol. As a result, the whale has so far earned 122,800 SKY tokens as rewards.

This activity comes in the wake of MakerDAO’s transition to Sky, with large-scale investors now positioning themselves to acquire the new token. The move by this particular whale is a clear indication of early interest in maximizing rewards from Sky Protocol.

Sky, previously known as MakerDAO, is set to introduce its stablecoin, USDS, on the Solana blockchain via the Wormhole bridge. As the sixth-largest DeFi protocol, Sky is planning to distribute up to 2 million SKY tokens weekly to support DeFi growth and bolster Solana’s ecosystem. This strategic token launch aims to attract developers and users to the platform, fueling further integration and innovation in the DeFi space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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