July 16, 2024
Altcoins News

MakerDAO Unveils “Endgame” Transformation for DeFi Evolution

A major decentralized finance (DeFi) protocol, MakerDAO, is undertaking a monumental shift with its upcoming “Endgame” transformation. Co-founder Rune Christensen announced the ambitious plan aimed at steering the platform towards scalable resilience and sustainable user growth.

Christensen declared the commencement of “launch season” for MakerDAO’s five-phase plan, as revealed in recent forum posts. The initial phase, slated for mid-2024, involves enlisting an external marketing firm to revamp the operation, making it more approachable and engaging.

The primary objective of the Endgame initiative is to elevate the decentralized stablecoin Dai’s market capitalization from its current $4.5 billion to “100 billion and beyond,” aligning it with competitors like Tether. Additionally, Christensen envisions infusing excitement into savings through yield farming opportunities presented by semi-autonomous “SubDAO” projects.

Following the rebranding phase, MakerDAO will introduce new tokens, tentatively named “NewStable” and “NewGovTokens,” with official titles forthcoming. Each Maker token will be redenominated into 24,000 NewGovTokens, while non-U.S. NewStable token holders can partake in farming 600 million NewGovTokens annually.

Co-founder Rune Christensen. Source: Andrew Fenton/Magazine

Christensen emphasized that these tokens will offer optional upgrades for Dai and MKR, boasting new features crucial for enhancing yield farming and user experience. Previously, Christensen articulated MakerDAO’s aspiration to rejuvenate DeFi, aiming for a sustained trajectory rather than a speculative bubble.

Future Roadmap

The subsequent phases of MakerDAO’s Endgame strategy entail the rollout of the “Lockstake Engine” (LSE), “NewBridge,” and SparkDAO, the pioneering SubDAO dedicated to lending.

Phase 2, set to commence after Phase 1’s successful implementation, will focus on expanding with more SubDAOs and bridges, likely in late 2024 or 2025. Phase 3 will witness the introduction of “NewChain,” a dedicated layer-1 blockchain, followed by the “Final Endgame,” solidifying Maker’s governance immutability.

With these strategic maneuvers, MakerDAO aims to catalyze a new era of DeFi innovation and sustainability, propelling the ecosystem towards unprecedented heights.

Image by fullvector on Freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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