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.
Sui (SUI) has dropped in the past week as the crypto market rally that started in late April has cooled off a bit but has still managed to leave the token in a much better place to eye a retest of its all-time high. This layer-1 blockchain had a great first quarter. A report from […]
Popular crypto analyst Il Capo of Crypto has issued a cautionary outlook for the digital asset market, warning of deeper corrections ahead as macroeconomic pressures return to the spotlight.
XRP has come under intensified selling pressure, sliding nearly 10% over the past week and signaling deeper concerns among derivatives traders.
Coinbase is gearing up to broaden its futures trading capabilities, introducing round-the-clock contracts for Solana (SOL), XRP, and Cardano (ADA) starting June 13.