Maker’s Endgame will begin, with the goal of holding 100B DAI Tether
Decentralized financial protocol MakerDAO is gearing up to launch a highly anticipated “endgame” transformation that will make the platform “more resilient and sustainable user growth,” according to co-founder Rune Christensen.
In March 12 X and MakerDAO forum posts, Christensen announced a “launch phase” for a five-phase plan for the DFi lending protocol — Phase 1, scheduled for mid-2024, will involve hiring an external marketing firm to turn the entire operation into something complex. And more fun.
The ultimate goal of the endgame is to take the protocol's decentralized stablecoin DAI (DAI) from its current market capitalization of $4.5 billion to “100 billion and more” on par with rival Tether (USDT).
Another goal, according to Christensen, is to “make savings fun” by developing new tokens for semi-autonomous “SubDAO” projects.
Following a mid-2024 rebranding phase, the token launch phase will introduce new tokens named “NewStable” and “NewGovTokens” until the real names are known.
MakerDAO converts each Maker (MKR) token into 24,000 NewGovTokens. Additionally, NewStable Token holders who do not reside in the United States can farm 600 million NewGovTokens per year.
These will be “optional upgrades to the Die and MKR with new features,” Christensen said.
“Launch season brings the most important product development and UX features to market quickly,” added Christensen.
Speaking to Cointelegraph magazine in January, Christensen said that MakerDAO “wants to bring back the summer of DeFi, but this time, it won’t end and it won’t go to zero.”
After the launch of the new token, the “Lockstake Engine” (LSE) will be launched, which will allow NewGovToken and MKR holders to earn a profit on locked tokens.
This will be followed by “NewBridge” – the exact name will be revealed later – which will allow the development of a low-cost layer-2 product.
The final part of Phase 1 is the launch of SparkDAO, the first SubDAO focused on loans.
Related: MakerDAO implements temporary payment adjustments amid market volatility
The Spark protocol was launched in May 2023, providing functions for DAI issuance and lending.
Phase 2 will include the addition of several SubDAOs and bridges and will begin in late 2024 or 2025 after the successful completion of Phase 1.
This will be followed by step 3, which will see the launch of “NewChain” – a dedicated layer-1 blockchain hosting Tokinomics.
Level 4 is the “endgame” and the creator's core management will be unchanged.
Magazine: MakerDAO plans to bring back ‘DeFi summer' – Rune Christensen
