HOLD CORE

Maker / Sky (MKR)

$124M Q1 revenue. 2.7x gross P/S (~6.7x net). $96M buyback (in SKY, not MKR). Sky rebrand: 10.7% migration.

Ranked 5th of 251 rated tokens. Scoring pass 11 Jun 2026.

Score
177/250
5th of 251
Percentile
98.4%
of the rated universe
Circulating
n/a
supply data not published
Off all-time high
-79.3%
4.8x to recover
EthereumERC-20+177 since last pass
01

What the numbers say

MKR scores 177 of 250 across the 25-variable framework, which places it 5th of 251 rated tokens and inside the top 5% of the set. The framework verdict is HOLD CORE.

MKR is a top-10 name in the set on 4 variables. The score rests on Treasury Runway 9/10, 1st of 251, Protocol Revenue 9/10, 2nd of 251, Buyback and Burn 9/10, 2nd of 251 and Revenue Trend 8/10, 2nd of 251.

MKR is 79.3% off its all-time high of $6,292, a 4.8x round trip from here.

The framework score gained 177 points against the previous pass (0 to 177). Revisions of this size follow a change in the underlying variables, not a change in price.

02

25-variable breakdown

Each variable is scored 1 to 10 and ranked against every other rated token, so a 7 that ranks 20th means something different from a 7 that ranks 180th. The rank is the part that is hard to get anywhere else.

Cash flow

Cash flow variables for MKR, scored 1 to 10 and ranked against 251 tokens
Protocol Revenue
92nd of 251
Revenue Trend
82nd of 251
P/S Multiple
82nd of 251
Real Staking Yield
537th of 251

Supply

Supply variables for MKR, scored 1 to 10 and ranked against 251 tokens
Supply Inflation
726th of 251
Vesting Schedule
735th of 251
Circulating / FDV Ratio
746th of 251
Buyback and Burn
92nd of 251

Ownership

Ownership variables for MKR, scored 1 to 10 and ranked against 251 tokens
Smart Money Flows
712th of 251
Insider Selling
78th of 251
Holder Concentration
510th of 251

Traction

Traction variables for MKR, scored 1 to 10 and ranked against 251 tokens
TVL Trend
86th of 251
Active Users
538th of 251
Developer Activity
79th of 251
Network Growth
712th of 251

Position

Position variables for MKR, scored 1 to 10 and ranked against 251 tokens
Market Share
84th of 251
Competitive Moat
85th of 251
Institutional Adoption
89th of 251
Exchange Depth
637th of 251
Social Mindshare
486th of 251

Risk

Risk variables for MKR, scored 1 to 10 and ranked against 251 tokens
Regulatory Safety
86th of 251
Catalyst Calendar
715th of 251
BTC Alpha Potential
66th of 251
Team Execution
712th of 251
Treasury Runway
91st of 251

The vertical tick on each bar marks the median score across all 251 rated tokens, so a bar ending left of the tick is below the universe on that variable.

03

Catalyst and risk

Next catalyst

USDS supply doubling to $20.6B, SubDAO launches, Sky Agent Network

Principal risk

MKR/SKY dual-token confusion, generic Sky rebrand, SubDAO dilution

04

Market and supply

Price$1,305
Market capnot published
All-time high$6,2923 May 2021
Circulating supply0
Eventual supply (unavailable)1,005,577
Dilution to full supplyn/a
Total value locked$7.17B
Listed onBinance, Coinbase, Bybit

Price, market cap, supply and all-time high from CoinGecko, fetched 6 Aug 2026. The 25 scores come from the research pass dated 11 Jun 2026 and don't move with price.

05

Tokens with a similar profile

These are the closest matches to MKR measured on the shape of all 25 variables after removing overall quality, so what they share is a pattern of strengths and weaknesses rather than a similar size or price.

06

Sources

  • [MEXC / CoinLaw] $124M Q1 2026 revenue (gross); net P/S ~6.7x not 2.7x
  • [CoinLaw] $96M buyback program in SKY tokens (not MKR), ~$114.5M projected
  • [Webacy] USDS/DAI 3rd largest stablecoin, A- Webacy rating
  • [DeFiLlama] TVL $7.17B (+24.5% YTD), targeting USDS doubling
07

Common questions

What is the Early Thunder score for Maker / Sky (MKR)?
MKR scores 177 out of 250 on the 25-variable framework, ranking 5th of 251 rated tokens (top 5%). The framework verdict is HOLD CORE.
What are MKR's strongest fundamentals?
MKR ranks highest on Treasury Runway 9/10, 1st of 251, Protocol Revenue 9/10, 2nd of 251, Buyback and Burn 9/10, 2nd of 251 and Revenue Trend 8/10, 2nd of 251. Ranks are measured against all 251 tokens in the same scoring pass.
How far is MKR from its all-time high?
MKR trades 79.3% below its all-time high of $6,292. Returning to that high requires a 4.8x move from the level used in this scoring pass.
Which tokens have a similar profile to MKR?
Measured on the shape of all 25 scored variables rather than on price, the closest matches to MKR are SYRUP (168), ETHFI (162), SKY (141) and COW (167). Similarity here means the same pattern of strengths and weaknesses, not a similar market cap.
What is the next catalyst for MKR?
USDS supply doubling to $20.6B, SubDAO launches, Sky Agent Network

Keep reading

Research and analysis, not investment advice. Scores are one framework applied consistently across 251 tokens, not a prediction of price.