MakerDAO to Embark on Endgame Transformation This Summer

Rune Christensen, the founder of MakerDAO, has unveiled details of the first phase of the Endgame roadmap, dubbed “Launch Season,” set to commence in the summer of 2024.

Launch Season is upon us!

Endgame focuses MakerDAO towards scalable resilience and sustainable user growth: The goal is 100 billion Dai and beyond

Launch Season will bring the most important yield farming and UX features rapidly to market

More: https://t.co/gWLWBWpEq8

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— Rune (@RuneKek) March 12, 2024

“Endgame focuses MakerDAO on scalable resilience and sustainable user growth. The goal is 100 billion DAI and beyond,” he emphasized.

The project outlined a five-stage transformation plan in May 2023.

According to Christensen, the first phase will see the rapid implementation of all key Endgame features.

The initial step will be the introduction of a new brand, designed to highlight the “core principles of the project”:

“To make saving money with stablecoins interesting and simple, and to provide easy access to new and exciting tokens free of charge and without additional risk.”

This phase will last about a month. Early users of the revamped site will be eligible for the Launch Airdrop incentive program.

Subsequently, two new tokens will be launched. NewStable will replace the DAI stablecoin, and the MKR will be redenominated at a ratio of 1:24,000 into NewGovToken.

Holders of NewStable will be able to “farm” up to 600 million governance tokens annually.

Following this, a new Lockstake Engine will be introduced, allowing holders of NewGovToken and MKR to earn income by locking tokens. Thirty percent of the protocol’s revenue will be allocated for this purpose. To encourage long-term participation, a 15% withdrawal fee will be imposed.

A solution tentatively named NewBridge will connect MakerDAO ecosystem tokens with major Ethereum-based L2 protocols for “yield farming.” In the long term, this tool is expected to become a full-fledged cross-chain bridge to various blockchains.

The climax of “Launch Season,” according to Christensen, will be the launch of SparkDAO with the governance token SPK, marking the first implementation of the subDAO concept within the transformation.

The main product of this future independent system, the lending service SparkLend, has been operational since May 2023. With the update, it will gain new business opportunities, including access to MakerDAO’s RWA infrastructure and the perpetual swaps market. Christensen confirmed a future SPK airdrop.

In addition to participating in SparkDAO governance, asset holders will also be able to “farm” NewGovToken.

Back in 2022, Christensen proposed decoupling DAI from the dollar. Many in the crypto community deemed the idea excessively radical, expressing concerns about the project’s future.