Converting MKR to SKY: Why the Upgrade Penalty Jumps to Five Percent in the Coming Days

Anyone still holding MKR receives 23,040 SKY per MKR on conversion today, rather than the full 24,000. The conversion contract withholds four percent. That deduction rises by another percentage point every three months, and the fourth step took effect on June 8, 2026. Eighty-six days have passed since then. The three intervals between steps so far ran to 84, 89 and 85 days. The fifth step is therefore due, it can take hold within days, and it costs a further 240 SKY per MKR. These figures come from no press release. cryptoticker.io read the conversion contract on the Ethereum blockchain directly on September 2, 2026, and reconstructed the entire history of the penalty block by block. The result diverges on one decisive point from what current reporting says: the steps do not fall on the calendar dates you would expect. What the MKR Conversion Penalty Costs You Today The conversion ratio is fixed: one MKR yields 24,000 SKY. Nothing has changed there since the conversion opened, and the penalty does not change it either. The deduction applies one stage later, at payout: the contract withholds a percentage of the converted amount before it transfers the SKY to you. At the four percent...