Moody’s assigned Sky Protocol, formerly MakerDAO, a B3 credit rating with a stable outlook, marking its first rating for a stablecoin protocol. The rating reflects Sky’s low tangible common equity of about $90 million against roughly $10 billion in managed assets, which Moody’s calls a "material credit weakness." Despite low historical credit losses and solid profitability, the rating is weighed down by Sky’s thin capitalization, confidence-sensitive stablecoin liabilities, and decentralized governance risks. Moody’s noted an upgrade is possible if Sky’s capital ratio improves above 2.5% while maintaining profitability and liquidity.
Sky Protocol's first stablecoin credit rating from Moody's is presented here alongside Pluang's cryptocurrency market snapshot as of Oct 08, 2026 02:42 WIB: out of 50 major cryptocurrencies, only 5 rose while 44 fell. VeChain (VET) dropped 7.26% to Rp144 with a typical hold time of 147 days and a buy order activity of 75%. Tezos (XTZ) declined 6.60% to Rp5,550 with a 100-day hold time and 96% buy orders. Stellar (XLM) fell 6.37% to Rp3,573 with an 84-day hold time and 96% buy orders.
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