Borrow against SKY
Teller pools accept SKY, the governance token MKR converted into, as collateral on Ethereum at up to 33.3% LTV, lending USDC at 25% APR. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| SKY | Ethereum | 33.3% | 25% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
The token formerly known as MKR
Sky is the rebranded Maker protocol, and SKY is the governance token holders converted into from MKR at a fixed ratio. If you are looking for an MKR pool and cannot find one, this is the row you want: the pool holds SKY at 0x56072c95faa701256059aa122697b133aded9279 on Ethereum.
Teller pools take it at 33.3% LTV and 25% APR, which is one of the more generous ceilings the platform gives a governance token.
Governing a lender, borrowing from another one
Sky runs one of the oldest collateralised lending systems in the industry, where a vault holder mints against collateral and watches a liquidation ratio for as long as the position is open. Holders of the governance token know that shape well.
This loan is the other shape. Rate, LTV and the roll window lock when it opens, the protocol holds your SKY until you repay or roll, and there is no ratio to monitor in between. For a holder who already runs a vault somewhere, it is a way to raise dollars without opening a second position that needs watching.
What the pool will not take
SKY committed to the protocol’s own savings or staking modules is a position rather than a balance, and cannot back a loan here. Deposit a free balance. Conversion from MKR happens through Sky rather than through this pool.
The loan
Deposit SKY, receive USDC, repay or roll on the due date. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral. Miss the due date and the collateral is forfeit. Mainnet gas applies across the approval and the borrow.
More of the same set on the DeFi collateral page.
Frequently asked questions
SKY is the row you want. Sky is the rebranded Maker protocol and MKR holders converted into SKY at a fixed ratio, so the pool holds SKY.
A vault gives you a position with a liquidation ratio to watch for as long as it is open. This loan locks its terms at the start and has no ratio to monitor at all.
No. That is a position rather than a balance. Withdraw first, or post a free balance.
Nothing happens to the loan. There is no liquidation threshold during the term, so your obligation on the due date is unchanged.
USDC on Ethereum, delivered to the wallet that signed the borrow.
Open a loan
Connect a wallet, deposit your collateral, and borrow a stablecoin. No credit check, no application.
Go to the borrow tab →No collateral to pledge? Check whether you pre-qualify for a no-collateral personal loan. Soft check, no hard pull.