MakerDAO has announced two new tokens in a major renovation
The two new tokens teased by MakerDAO are NewStable (NST) and NewGovToken (NGT). NST replaces DIE and offers enhanced features NGT replaces MKR and encourages wider governance participation. Existing holders of Dai and MKR will have the option to migrate to the new tokens or continue using their current holdings.
MakerDAO, the decentralized autonomous organization that governs the Maker Protocol, has announced the launch of two new tokens – NewStable (NST) and NewGovToken (NGT).
These milestones mark a major milestone in MakerDAO's evolution, providing improved stability and management features across the ecosystem.
NewStable (NST) token
The NewStable (NST) token represents an improved version of the die designed to promote wider adoption and provide superior stability features.
Existing die holders will have the option of seamlessly upgrading to NST while retaining the flexibility to convert their holdings to die at any time.
Additionally, NST holders can participate in farming operations to earn NewGovToken (NGT) from launch.
NewGovToken (NGT) token
The NewGovToken (NGT) token will serve as the new governance token in the MakerDAO ecosystem, giving Maker (MKR) holders the opportunity to upgrade their tokens.
Each MKR token will be converted into 24,000 NGT during the upgrade process, systematically renamed to encourage wider participation in governance activities. This initiative aims to allow more users to actively influence the future direction of the MakerDAO ecosystem to hold a larger number of NGTs.
MakerDAO is expanding its offerings while maintaining its flexibility.
With the introduction of NST and NGT, MakerDAO is expanding its offerings while maintaining flexibility for users.
The upcoming brand demo will mark the official introduction of these tokens into the ecosystem, offering users new features and opportunities.
In addition to the token launch, MakerDAO is also exploring investment opportunities to further strengthen its ecosystem. Plans include a massive $600 million investment in DAI and USDe (sUSDe) through Morpho Labs' DeFi lending protocol. These investments aim to support the growth and development of stablecoin assets in the DeFi space.
