Endgame unveils NewStable ($NST) and NewGovToken ($NGT), upgraded versions of $DAI and $MKR.
Key Points:
- DAI and MKR remain available indefinitely
- 1 $DAI = 1 $NST, 1 $MKR = 24,000 $NGT
- Upgrading is optional with seamless conversion
- $NST targets mass adoption, DAI focuses on crypto-native use
- $NGT aims to promote broader governance engagement
Users can continue using existing tokens or opt for upgrades. The redenomination of $NGT allows more users to hold significant amounts, potentially increasing ecosystem influence.
MakerDAO has recently introduced a new investment fund specifically for its MKR token, launched by asset manager Grayscale. This initiative is expected to boost investor confidence and liquidity for MKR, aligning with the growing trend of institutional interest in decentralized finance (DeFi).
New Assets and Token Upgrades
- MakerDAO has unveiled a revamped stablecoin and governance token, aimed at enhancing the stability and functionality of its financial products.
- A token upgrade for both MKR and DAI has been launched, introducing two new assets that further diversify the Maker platform.
- Grayscale has introduced a new investment product for MKR, the governance token of MakerDAO.
Restructuring Efforts and Market Shifts
- MakerDAO is considering offboarding Wrapped Bitcoin (WBTC) amidst restructuring efforts, following recent market shifts and over $30 million in WBTC redemptions.
- The halt on new loans by MakerDAO has led to a significant redemption of WBTC, potentially impacting the stability of the asset.
The updates and new assets introduced in the Maker ecosystem are likely to have a significant impact on the decentralized finance (DeFi) landscape. As institutional interest in DeFi continues to grow, the development of more stable and functional financial products is crucial for the success of the industry.
Announcement: https://x.com/MakerDAO/status/1826614481494962325
Sources: https://cryptoslate.com/makerdao-unveils-revamped-stablecoin-and-governance-tokens/ https://coingape.com/makerdao-rolls-out-mkr-and-dai-token-upgrade-but-theres-a-catch/ https://www.coindesk.com/business/2024/08/13/asset-manager-grayscale-introduces-crypto-fund-for-makerdaos-mkr/ Show Less
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