According to the Gate.io News bot, TheBlock reports that the Sky core governance team Atlas Axis has submitted a new proposal to the community, planning to completely upgrade the governance token of the Sky ecosystem from MKR to SKY. Sky is renamed from Maker in 2024 through the "Endgame" strategy, having previously launched USDS and SKY tokens to replace DAI and MKR respectively. According to the proposal, MKR holders can convert their tokens to SKY at a ratio of 1:24000. Starting from September 18, a 1% fee will be charged for the conversion, which will increase by 1% every three months. Once the proposal is approved, all governance rights will be transferred to the SKY Token. The conversion process is expected to be completed between May 15 and May 19, with the specific timing determined by on-chain voting. Currently, the supply of USDS has exceeded $7.5 billion.

Sky (formerly MakerDAO) has proposed a protocol upgrade plan to transition from MKR to SKY, which will make SKY the sole governance token, support staking, and unlock USDS rewards. The co-founder praised it as a "huge milestone." Although USDS and SKY serve as upgrade tokens, DAI and MKR remain in circulation, allowing users to choose a gradual transition.

Jin10 reported on May 1st that on the evening of the 1st local time, the South Korean opposition party pushed for the impeachment of Economic Vice Prime Minister Choi Sang-mok during the national assembly plenary session held that evening, and Choi Sang-mok announced his resignation before the assembly vote.

PANews May 1st news, according to CoinDesk, the privacy-focused Layer-2 Rollup protocol Aztec announced the launch of its Testnet, which utilizes protocol-level encryption technology, allowing users to store private data on the Blockchain in an encrypted form. The project team stated that they have been dedicated to developing this product for over 8 years, pushing this cutting-edge technology further towards the Mainnet. Co-founder Zac Williamson stated that unlike conventional ZK Rollups, Aztec prioritizes privacy over scalability, requiring more on-chain resources for each transaction. In a previous news from 2022, Aztec Network completed a $100 million Series B funding round, led by a16z.

Jin10 reported on May 1st that on April 30th local time, Trump discussed the impact of the current tariff policy on the United States at a cabinet meeting in the White House. Trump said, "Perhaps children can only buy two dolls instead of 30 dolls, and maybe these two dolls will be a few dollars more expensive than the normal price."

On May 1, Jin10 reported that on May 1 local time, Ukrainian President Zelensky signed a decree approving sanctions against several individuals, including former presidential office advisor Oleksiy Arestovych.

PANews, May 1st news, according to Onchain Lens monitoring, a newly created Wallet has transferred 5 million USDC to the HyperLiquid platform and placed a Spot order to buy HYPE Token within the price range of 12 to 20.05 USD.

Gate.io News bot news, a newly established digital Wallet transferred 5 million USDC stablecoin to the HyperLiquid platform and placed a Spot order to buy HYPE Token on that platform. According to the order, the purchase price range set by the Wallet for HYPE Token is between 12 USD and 20.05 USD.

PANews May 1st news, according to market news, the CEO of Charles Schwab stated that Spot Crypto Assets trading will be launched within 12 months.

PANews May 1 news, DWF Labs partner Andrei Grachev stated on platform X: "We have started to buy some tokens on the open market to build our long positions."

Jin10 reported on May 1 that the U.S. Department of Labor announced on Thursday that for the week ending April 26, the number of initial unemployment claims increased by 18,000 to 241,000, the highest level since early October. The increase in claims was mainly from New York, where applications typically rise during the spring around school holidays.

Classover Holdings has signed a stock subscription agreement with Solana Strategies Holdings to sell up to $400 million of Class B common stock. The proceeds will be used for Solana digital asset reserve strategy, working capital, and strategic acquisitions. The plan is to purchase, hold, and stake SOL tokens, becoming one of the first publicly traded companies to incorporate SOL into its core reserve business. The company also intends to operate SOL validation Nodes to enhance network Decentralization and security, and earn staking rewards.

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U.S. Treasury Secretary Yellen believes that a 2-year Treasury yield below the federal funds rate indicates that the Federal Reserve should cut interest rates. The market generally sees this as a signal that the tightening cycle is coming to an end, but there is a risk that market expectations may be wrong. For example, in 2023, the 2-year Treasury yield briefly fell below the federal funds rate, only to quickly rebound.

PANews May 1 news, according to Jin10 report, U.S. Treasury Secretary Besant stated that the two-year Treasury yield is lower than the ten-year yield, indicating that the Federal Reserve should consider lowering interest rates. In addition, he stated that we expect the GDP data to be revised.

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Jin10 reported that interest rate futures expect the Bank of England to cut rates by 100 basis points for the remainder of 2025, with 94 basis points on Wednesday.

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PANews, May 1st news, according to on-chain analyst Yu Jin's monitoring, a Whale that has recently shorted ETH multiple times at the highest price of 1,800 has now shorted 10,000 ETH (approximately 17.9 million USD), with an average price of 1,791 USD, resulting in unrealized losses of 510,000 USD. He continued to short 4,000 ETH by borrowing coins in the past hour, bringing his short position to 10,000 ETH. The average shorting price is $1,791, currently with unrealized losses of $510,000.

According to BlockBeats news on May 1, based on GMGN market data, AI zone tokens are strengthening, among which: VIRTUAL has a 24-hour rise of 33.08%, currently priced at 1.7145 USD; AIXBT has a 24-hour rise of 21.53%, currently priced at 0.1881 USD; ai16z has a 24-hour rise of 11.56%, currently priced at 0.3013 USD.

Mizuho pointed out that the Bank of Japan's pause in monetary tightening has increased the depreciation pressure on the yen, shifting market focus to the low interest rate environment. The risk of yen depreciation has increased, making the dollar's movement crucial. Although the Bank of Japan emphasizes positive factors, the cautious attitude has complicated the dollar's short positions against the yen.

Gate.io News bot message, according to Gate.io market display, the BTC_USDT price has surpassed 96000 USDT, current price is 96023.9 USDT. 24-hour increase is 1.11%.

BlockBeats news, on May 1st, according to market news, Morgan Stanley plans to offer crypto assets trading to ETRADE customers. (Jin10)

Gate.io News

According to Gate.io News bot, Decrypt reported that the Ethereum development team is advancing the development of two new standards, ERC-7930 and ERC-7828. ERC-7930 provides a standardized format for computers to specify the network to which an address belongs; ERC-7828 converts addresses into human-readable formats such as "readonly@decrypt this". The multi-protocol team Wonderland pointed out at the Ethereum L2 interoperability working group meeting that currently, wallets and protocols lack a unified standard for parsing and displaying cross-chain address information. These two new standards are planned to be finalized on May 9 and will then be implemented in wallets, block explorers, and cross-chain protocols. Additionally, the Ethereum Pectra upgrade is scheduled to go live on May 7, having been delayed due to issues with the testnet.

Odaily News Japan's Central Bank Governor Kazuo Ueda: If U.S. President Trump reduces tariffs to zero or maintains them at a lower level, it may lead to a quicker interest rate hike. (Jin10)

The Ethereum core development team is about to complete the formulation of the ERC-7828 and ERC-7930 standards, aimed at solving the address recognition problem in Cross-Chain Interoperativity. ERC-7930 provides a unified network identification format for the system, while ERC-7828 is dedicated to converting encryption addresses into a more recognizable "name@service" format, reducing the risks users face due to incorrect network selection. In addition, the Ethereum Pectra upgrade is scheduled to be deployed to the Mainnet on May 7.

BlockBeats news, on May 1, according to Cointelegraph, Zack Witkoff, co-founder of World Liberty Financial, stated that the USD stablecoin USD1 issued by WLFI will also be natively issued on the Tron blockchain. Previously, WLFI had issued the stablecoin USD1 on the BNB Chain.