Sky co-founder sells $1.29 million worth of ENA to buy back an equivalent amount of SKY

BlockBeats News, August 17 — Sky (formerly MakerDAO) co-founder @RuneKek repurchased 16.38 million SKY tokens in the past 40 minutes using 1.77 million ENA (worth $1.29 million) obtained from investments.

Forty minutes ago, he claimed 1.77 million ENA, presumably from investment returns, from the Ethena vesting contract. He then transferred these ENA to the address used for repurchasing SKY, sold them, and exchanged them for 16 million SKY tokens.

Since early June, he has used a total of $10.21 million—including today’s ENA and yields from staking SKY (USDS and SPK)—to repurchase 122 million SKY tokens at an average price of $0.0836.