A recent proposal aimed at rebranding the DeFi protocol Sky back to its original name, Maker, was thwarted by the immense voting power held by a small group of whale voters. These four MKR whales were responsible for a staggering 98% of the voting power in favor of maintaining the Sky rebrand.

The outcome highlights the significant influence that major stakeholders have in decentralized finance, raising questions about the true nature of decentralization in such systems. This incident sheds light on the ongoing debates around voting rights and influence in the DeFi space.

Moreover, it underscores the challenges in decision-making processes within decentralized platforms, where a few entities can effectively steer the direction and evolution of a protocol. The decision to keep the Sky branding reflects the current dynamics of stakeholder engagement and influence within the Maker protocol.