Governance token concentration (Gini)

Sky Lending (formerly MakerDAO)'s assessment for RD-F-047 — scored yellow on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

Rune Christensen (founder) controls ~9% of governance tokens per S&P Global 2025 B- credit rating. S&P cited 'highly centralized governance' with low voter turnout. SKY has 12,967 holders per Etherscan. Full Gini computation not performed.

Sources #

URL
https://www.defiscan.info/protocols/sky/ethereumretrieved 2026-04-28
Etherscan
https://etherscan.io/token/0x56072C95FAA701256059aa122697B133aDEd9279#holdersretrieved 2026-04-28
URL
https://www.theblock.co/post/366106/sp-global-sky-protocolretrieved 2026-04-28

Methodology #

Compute the Gini coefficient of governance token holdings across the top-1000 holder addresses.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol sky-lending factor RD-F-047 score yellow collected_at 2026-04-28 00:43:18