Overview
As the launch season approaches, MakerDAO is preparing to roll out two new tokens: NewStable and NewGovToken. These tokens are set to be introduced following an upcoming brand reveal, which will also announce their official names.
NewStable (NST) is positioned as an upgraded version of Dai, designed for broader adoption with features that enhance stability.
NewGovToken (NGT) aims to refine the governance mechanisms within MakerDAO's ecosystem, promoting increased participation and more dynamic decision-making. The transition for token holders is designed to be seamless.
Dai holders can upgrade to NewStable with the option to revert to Dai at their discretion, while Maker token holders can convert their holdings to NewGovToken at a ratio of 24,000 NGT per MKR, a move intended to democratise governance by increasing token distribution.
These new tokens are not intended to replace the existing Dai and Maker tokens but to exist alongside them, providing users with additional options. NewStable will be accessible to both new users and existing Dai holders, allowing for an easy upgrade path with the option to revert to Dai. It will also enable NST holders to engage in farming activities to earn NGT, although this will exclude U.S. residents and users connecting via VPNs.
On the governance side, NewGovToken will allow MKR holders to transition their tokens to NGT, with the flexibility to convert back to MKR. This redenomination strategy is designed to facilitate wider participation in the governance of the ecosystem.
Conclusion
Looking ahead, by adopting these new tokens, users will gain access to the latest features and opportunities within MakerDAO’s evolving ecosystem. The introduction of new farming products and the Lockstake Engine are part of the strategic initiatives to enhance user engagement and expand participation, catering to both new entrants and existing members of the ecosystem. These developments signify MakerDAO's commitment to evolving and adapting to meet the needs of its community.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.
Overview
As the launch season approaches, MakerDAO is preparing to roll out two new tokens: NewStable and NewGovToken. These tokens are set to be introduced following an upcoming brand reveal, which will also announce their official names.
NewStable (NST) is positioned as an upgraded version of Dai, designed for broader adoption with features that enhance stability.
NewGovToken (NGT) aims to refine the governance mechanisms within MakerDAO's ecosystem, promoting increased participation and more dynamic decision-making. The transition for token holders is designed to be seamless.
Dai holders can upgrade to NewStable with the option to revert to Dai at their discretion, while Maker token holders can convert their holdings to NewGovToken at a ratio of 24,000 NGT per MKR, a move intended to democratise governance by increasing token distribution.
These new tokens are not intended to replace the existing Dai and Maker tokens but to exist alongside them, providing users with additional options. NewStable will be accessible to both new users and existing Dai holders, allowing for an easy upgrade path with the option to revert to Dai. It will also enable NST holders to engage in farming activities to earn NGT, although this will exclude U.S. residents and users connecting via VPNs.
On the governance side, NewGovToken will allow MKR holders to transition their tokens to NGT, with the flexibility to convert back to MKR. This redenomination strategy is designed to facilitate wider participation in the governance of the ecosystem.
Conclusion
Looking ahead, by adopting these new tokens, users will gain access to the latest features and opportunities within MakerDAO’s evolving ecosystem. The introduction of new farming products and the Lockstake Engine are part of the strategic initiatives to enhance user engagement and expand participation, catering to both new entrants and existing members of the ecosystem. These developments signify MakerDAO's commitment to evolving and adapting to meet the needs of its community.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.
Overview
As the launch season approaches, MakerDAO is preparing to roll out two new tokens: NewStable and NewGovToken. These tokens are set to be introduced following an upcoming brand reveal, which will also announce their official names.
NewStable (NST) is positioned as an upgraded version of Dai, designed for broader adoption with features that enhance stability.
NewGovToken (NGT) aims to refine the governance mechanisms within MakerDAO's ecosystem, promoting increased participation and more dynamic decision-making. The transition for token holders is designed to be seamless.
Dai holders can upgrade to NewStable with the option to revert to Dai at their discretion, while Maker token holders can convert their holdings to NewGovToken at a ratio of 24,000 NGT per MKR, a move intended to democratise governance by increasing token distribution.
These new tokens are not intended to replace the existing Dai and Maker tokens but to exist alongside them, providing users with additional options. NewStable will be accessible to both new users and existing Dai holders, allowing for an easy upgrade path with the option to revert to Dai. It will also enable NST holders to engage in farming activities to earn NGT, although this will exclude U.S. residents and users connecting via VPNs.
On the governance side, NewGovToken will allow MKR holders to transition their tokens to NGT, with the flexibility to convert back to MKR. This redenomination strategy is designed to facilitate wider participation in the governance of the ecosystem.
Conclusion
Looking ahead, by adopting these new tokens, users will gain access to the latest features and opportunities within MakerDAO’s evolving ecosystem. The introduction of new farming products and the Lockstake Engine are part of the strategic initiatives to enhance user engagement and expand participation, catering to both new entrants and existing members of the ecosystem. These developments signify MakerDAO's commitment to evolving and adapting to meet the needs of its community.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.
