Sky’s (formerly MakerDAO) use of externally owned accounts (EOAs) to manage $756 million in USDC reserves raises questions about security and transparency.
Sky, formerly known as MakerDAO, is facing criticism for its reliance on an externally owned account (EOA) to manage $756 million in USD Coin reserves within its lite peg stability module (PSM).
Concerns have been raised by an X user around the protocol’s reliance on an EOA to manage a substantial portion of its reserves amounting to $756 million in USD Coin (USDC).
Critics argue this custodianship model could leave funds vulnerable to potential exploits or insider misuse.
