Decentralized finance (DeFi) protocol MakerDao (MKR) is ready to implement a five-phase plan called “Endgame Plan” MakerDAO founder Rune Christensen said that the project will begin implementing the “Endgame” plan this summer. Moreover, the first phase includes a rebranding, two new tokens, and scaling of the Dai stablecoin (DAI).
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
MakerDAO Rebranding and two new tokens
In total, the Endgame plan involves five phases. During the first, MakerDAO plans to carry out a complete rebranding, which will take approximately one month. Early users will be able to receive a starting bonus, which will increase the profitability of new tokens.
After the rebranding, the coin launch phase will begin. The details are as follows:
-The first token is tentatively named NewStable. It can be converted to Dai. The coin will be available to all new users except US residents. Every year, MakerDao will distribute 600 million NewStable among asset holders.
-The second token is tentatively named NewGovToken. It will be available to Maker (MKR) holders by exchanging an old asset for a new one. Moreover, for each MKR, users will be credited with 24 thousand NewGovToken. This asset will provide access to all key features of MakerDao and will be a convenient entry point for newcomers to DeFi.
Endgame will introduce several new features
Once the new tokens are launched, there will be several new features on the MakerDao platform. Specifically, it is a staking mechanism called the Lockstake Engine. Users will be able to receive income from blocking NewGovToken and MKR for long periods.
Christensen also introduced a new bridge between the Maker and Ethereum ecosystems. He noted that the project will be integrated into an as-yet-unnamed large Layer 2 (L2) network based on ETH.
A big part of the first phase of Endgame will be an update to Spark. It is the first lending- focused SubDAO, which launched last year. Spark’s features are expected to expand to include support for real world assets (RWA).
During the remaining stages of the plan, more SubDAOs will appear on MakerDAO, which will contribute to the scalability of the protocol. The developers also plan to launch an L1 network. However, Christensen put Endgame up for a vote at the end of 2022. Then the proposals of the founder of the DeFi project were supported by 80% of the community.
How MakerDAO MKR reacts?
According to tradingview, the native token of the MakerDAO (MKR) has risen in price by more than 10% over the past 24 hours. At the time of writing, its cost is $2,750.
Meanwhile, the trading volume, increased by 170% over the past 24 hours. The figure currently stands at $321 million, with MKR’s market capitalization at $2.5 billion.
