MakerDAO Announces Transformative 'Endgame' Strategy for Expansion and Scalability
Summary:
MakerDAO, a decentralized finance lending protocol, has announced a strategic plan named "Endgame", composed of five stages to be commenced by mid-2024. The roadmap includes a rebranding exercise, issuing fresh tokens, re-denomination of existing tokens, and the introduction of yield farming tools and proprietary blockchain. The objective is to strengthen the protocol, foster its growth, and reach a $100 billion market capitalization for its stablecoin DAI.
MakerDAO, the DeFi lending protocol, has declared its intention to undergo a transformative journey they've dubbed as the "Endgame". Co-founder Rune Christensen has outlined a vision that focuses on growth and strength, leveraging a strategy that can sustainably accommodate an expanding user base. "Launch season" is beginning for MakerDAO's progressive five-stage roadmap, due for commencement by mid-2024. Stage one is set to introduce a new image for the protocol, curating a more engaging and accessible brand experience through the assistance of an external marketing firm.
The primary aspiration for the Endgame is to escalate the value of MakerDAO's decentralized stablecoin DAI ($4.5 billion current market cap) to reach, and exceed, "100 billion". This would put DAI in direct competition with USDT, a formidable decentralized stablecoin. Furthermore, MakerDAO is aiming to make yield farming a more enjoyable activity by introducing new tokens generated from independent SubDAO projects.
Post-rebranding, MakerDAO will release fresh tokens known as "NewStable" and "NewGovTokens" provisionally, until proper names are established. To facilitate this, each Maker (MKR) token will be revamped into 24,000 NewGovTokens. Non-US NewStable token holders will have the benefit of farming 600 million NewGovTokens yearly. These tokens will serve as enhancements for both Dai and MKR by providing novel features.
Following these changes, MakerDAO will present the "Lockstake Engine", a feature developed to generate yield from NewGovToken and MKR tokens. Concurrently, "NewBridge" will be inaugurated, a tool designed for affordable layer-2 yield farming. The final aspect of the initial phase is the launching of SparkDAO, the pioneering SubDAO with a primary focus on lending.
Upon the successful completion of the first phase, Phase 2 will commence with the augmentation of further SubDAOs and bridges. Phase 3 sets to debut "NewChain", a proprietary layer-1 blockchain exclusively designed for tokenomics. The concluding phase, "Final Endgame", ensures the irreversible nature of Maker's core governance.
Published At
3/13/2024 9:18:59 AM
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