Obex is a next-generation crypto incubator launched by Sky (formerly MakerDAO) to bring real-world-asset-backed stablecoin strategies onchain with institutional-grade risk controls. Designed to avoid failures seen in synthetic or under-collateralized stablecoins, Obex supports teams building stablecoins backed by high-quality collateral such as compute credits, energy assets, and fintech loans. Through a 12-week accelerator program, Obex provides early-stage founders with capital, technical support, and access to Sky’s $9B+ stablecoin ecosystem (DAI + USDS). Its mission is to accelerate the next wave of secure, yield-bearing stablecoins and real-world-asset protocols.