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On May 14, according to a report by Coindesk, Sky (formerly MakerDAO) lost 5 million USD in the first quarter of this year due to a doubling rise in Interest paid to Token holders. This loss stands in stark contrast to the previous quarter when Sky achieved a profit of 31 million USD. The main reason for the 102% increase in Interest expenses is that Sky decided to promote the use of its newly launched stablecoin Sky Dollar (USDS) by offering higher incentives to replace the existing DAI.

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