Founder of Giant Altcoin Announces Big Transformation, Explains What Happens Next

MakerDAO, the decentralized autonomous organization (DAO) behind the popular stablecoin DAI, announced a major transformation of its platform dubbed “Endgame.”

According to the announcement, Endgame aims to improve growth, flexibility and accessibility, with the goal of scaling the DAI supply to 100 billion and beyond.

Endgame was first proposed nearly two years ago and was approved by an executive vote in August 2022.

According to the founder’s statement, Launch Season, which is an important part of Endgame, is now starting. This season, the most important crop cultivation and user experience features will be quickly brought to market. The first phase of Launch Season will be Brand Reveal, where the ecosystem will unveil an entirely new look and feel designed for simplicity and user adoption. Bonus returns will be offered to early users who sign up for the Launch Airdrop on the new website.

According to the statement, the next phase will be Token Launch, where NewStable (new stablecoin) and NewGovTokens (new governance token, real names will be announced later) will be introduced as optional updates for DAI and MKR with new features. When MKR is upgraded to NewGovToken, it will be revalued at a rate of 1:24,000 and NewStable holders will be able to collect 600 million NewGovTokens per year.

Following the Token Launch phase, the Lockstake Engine (LSE) will be implemented. LSE will allow NewGovToken and MKR holders to earn 30% of Maker’s surplus as returns. In exchange for this return and to encourage long-term participation, the LSE will be subject to a 15% exit fee.

See also  KuCoin announces the pre-market launch of Wormhole $W Token

Next up for Launch Season is NewBridge (a new bridge, real name to be revealed later), which will be available on a large layer 2 network. This means all of Launch Season’s yield farming features are available to everyone at low fees. In the long term, NewBridge will connect MakerDAO to the entire multi-chain ecosystem.

According to the statement, the culmination of Launch Season will be the anticipated launch of Spark SubDAO. Spark claims to offer innovative DeFi products backed by MakerDAO’s scale and track record. The CMB token will be farmable by anyone with NewStable and NewGovToken through the LSE.

*This is not investment advice.

Source link