Sky community approves $2.5 billion fund to support Obex-incubated crypto yield project

According to a report by Jinse Finance on November 18, an official announcement stated that the Sky community has voted to approve a major funding proposal, granting up to $2.5 billion in support to the incubator project Obex, backed by Framework, for investing in successfully incubated crypto yield projects. This decision coincides with a $37 million financing round led by Framework Ventures. The round also saw participation from institutions such as LayerZero and the Sky Ecosystem. According to the plan, Obex will launch a 12-week incubation program, focusing on supporting projects dedicated to developing new on-chain yield sources within the Sky ecosystem. Obex plans to provide funding to capital-intensive crypto projects through stablecoins and tokenized assets. This initiative is a key component of Sky’s “Endgame” plan launched in 2024, which aims to upgrade the original Maker protocol into a more resilient decentralized real-world asset protocol. With the rebranding, Sky has launched several subDAOs dedicated to developing application scenarios around the new USDS stablecoin and yield-generating mechanisms.