UPDATED: March 13, 2024, 3:23 a.m. EDT
Dai stablecoin issuer MakerDAO will launch the first phase of Endgame in summer 2024, according to a post from founder Rune Christensen on the project’s official governance forum. The release includes two new tokens, tentatively titled NewStable and NewGovToken.
The project’s Dai stablecoin and MKR
+6.02%
Endgame’s launch season is expected to take place in consecutive stages, starting with the reveal of a new brand. A month later, two new tokens will be rolled out under the working titles NewStable and NewGovToken. Users will have the option to upgrade their Dai and Maker (MKR) tokens to the new coins, which are expected to be involved in new staking and yield farming features in the ecosystem.
“The ecosystem will explore ways to ultimately differentiate Dai and NewStable, with Dai focusing on crypto-native use cases and NewStable focusing on mass adoption.” wrote Rune Christensen.
Creator of diversification
Other new features will follow the launch of the new token, including the Lockstake Engine, where users can lock their MKR or NewGovToken for an extended period of time for greater risk/reward exposure, and a new low-cost bridge that connects tokens of the Ethereum Maker ecosystem. to a major Layer 2 network yet to be determined.
Christensen further highlighted the importance of Spark, Maker’s first SubDAO which is also expected to have its own token. The loan product was launched a year ago. SparkDAO will further expand its range of features to include real-world assets and perpetual swap yields, the forum post states.
MakerDAO’s Endgame will be completed in three additional phases after the initial launch phase, which is expected to expand Maker’s SubDAOs and launch a new layer 1 blockchain.
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About the Author
Danny Park is an East Asia reporter at The Block who writes about topics including Web3 developments and crypto regulations in the region. He was formerly a reporter at Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny has previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a bachelor’s degree in journalism and business marketing from the University of Hong Kong.