The DeFi platform MakerDAO has introduced updated versions of its stablecoin DAI and governance token MKR as part of its Endgame roadmap transformation.
Endgame introduces NewStable and NewGovToken, the upgraded versions of DAI and MKR.
However, DAI and MKR will remain available. Both tokens are expected to stay unchanged for the foreseeable future, unless governance decides otherwise.
You can continue to hold and use… pic.twitter.com/ucB6s8qsqF
— Maker (@MakerDAO) August 22, 2024
Users will have the ability to freely convert DAI to NewStable (NST) and back at a 1:1 ratio. Both assets will circulate, albeit with certain differentiation.
“DAI will focus on cryptocurrency use cases, while NewStable will target mass adoption,” the team explained.
Holders of MKR will still be able to participate in project governance through voting. NewGovToken (NGT) will also be used for this purpose.
The optional conversion rate for the coins will be 1 MKR for 24,000 NGT.
“This denomination is intended to encourage broader participation in governance,” the statement said.
The ratio will allow more users to own the platform’s governance tokens and “actively influence the ecosystem’s future,” the developers emphasized.
Back in March, MakerDAO founder Rune Christensen revealed details of the first phase of Endgame, called “Launch Season.”