MakerDAO will launch new tokens as part of the Endgame ecosystem upgrade

What’s new? Rune Christensen, the founder of the decentralized autonomous organization (DAO) MakerDAO, has revealed details of the Endgame upgrade, which aims to increase the decentralization of the DAI algorithmic stablecoin issued by the project. The first phase of Endgame will be implemented in the summer of 2024 and includes the release of two new assets, tentatively labeled NewStable and NewGovToken.

Upgrade program

What else is known? The project’s stablecoin DAI and governance token MKR will continue to exist and retain their functions, but users will have the option to upgrade to NewStable and NewGovToken, respectively. The new assets are expected to provide additional staking and yield farming features to the MakerDAO ecosystem. The ability to reverse convert assets will also remain.

According to Christensen, ways will be explored to eventually differentiate between DAI and NewStable, with the former targeting traditional use cases in the crypto space and the latter targeting mass adoption.

The launch of the new token will be followed by other new features, including a mechanism to lock MKR or NewGovToken for an extended period of time within the Lockstake Engine (LSE) for greater rewards. And a low-fee cross-chain protocol that will allow assets to be moved from the Maker ecosystem to the largest Ethereum-based Layer 2 (L2) networks.

Christensen proposed the Endgame plan in October 2022 as US authorities put crypto mixer Tornado Cash on a sanctions list. It aims to make DAI 100% decentralized by decoupling it from large centralized assets that can be frozen or seized at the request of regulators.

The plan also entails the creation of a number of independent subDAOs that exist within a larger ecosystem, which will ensure the project’s sustainable growth and foster innovation. The first such subDAO will be Spark, focused on lending and other decentralized finance (DeFi) products. It will also have its own token, SPK.

Rounding out Endgame will be the launch of its own blockchain for Maker, codenamed NewChain. According to Christensen, this will make the ecosystem more secure and efficient.

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DAI ranks third in the stablecoin ranking and 30th in the overall cryptocurrency list with a capitalization of $4,57 billion. MKR is in 56th place with a capitalization of $2,59 billion, the asset is trading on Binance at $2801, having added 9,5% in 24 hours and 64,8% since the beginning of the year.