MakerDAO Introduces Upgraded DAI and MKR Tokens

MakerDAO has announced a significant upgrade with new versions of its DAI stablecoin and MKR governance token.

The upgraded tokens, NewStable (NST) and NewGovToken (NGT), offer optional adoption while keeping the original tokens available unless governance decides otherwise.

The transition will involve converting DAI to NST at a 1:1 ratio, while MKR will exchange for NGT at a ratio of 1 MKR to 24,000 NGT. This setup aims to increase governance participation by allowing more users to hold substantial amounts of NGT.

NewStable focuses on mass market adoption and compliance with regulations, including a planned freeze function for legal certainty. However, this feature won’t be available at launch and will be subject to future governance decisions.

These updates are part of MakerDAO’s “Endgame” strategy, designed to improve governance and tokenomics, leading towards a more resilient and self-sustaining ecosystem. The plan includes creating specialized sub-DAOs and restructuring governance for greater efficiency.