The Sky Demon's existence dates back into the 22nd century at least, when the Aelasans were still a starfaring people. The asteroid's course was mapped during that time and the knowledge preserved even after the Aelasans gave up most of their technology.
In 2409, as predicted by the ancient "prophecies", the Sky Demon was on a collision course with Aelas IV and threatened the hunting grounds of the tribal Aelasans. The chief promised his planet's topaline to the government whose starship would prevent the calamity, and he demanded the Federation and the Klingon Empire to compete. Follwing a battle between Klingon Defense Force ships, led by Captain Ja'rod, son of Torg of the IKS Kang and a Starfleet starship, the Sky Demon was destroyed by the Federation. The elder chief agreed to a fair deal with Fleet Admiral Leonard James Akaar on the surface, and the Federation gained access to the topaline and made an ally of the Aelasans. (STO - "Romulan Mystery" mission: "Saturday's Child")