Sky Agreement Q1 incurs a loss of $5 million due to a 102% increase in incentive USDS interest expenses

BlockBeats News: On May 14th, according to a report written by contributors from Steakhouse Financial, Sky (formerly MakerDAO) lost $5 million in the first quarter of this year due to a doubling of interest payments to token holders. This loss is in stark contrast to the previous quarter, when Sky achieved a profit of $31 million. The main reason for the 102% increase in interest expenses is that Sky has decided to incentivize users to use its newly launched stablecoin, Sky Dollar (USDS), to replace the existing DAI through higher incentives.