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- MakerDAO founder Rune Christensen has revealed that Endgame, a new plan for governance, decentralization, and stability, will launch in the summer of this year.
- Christensen also announced that the Endgame launch would include the release of two new tokens, NewStable and NewGovToken, to be used for yield farming and staking.
MakerDAO’s Endgame Plan, which details a new decentralization, tokenomics and governance system, will launch later this year, founder Rune Christensen has revealed.
Christensen first introduced the Endgame Plan in May 2022 as a proposal to overhaul MakerDAO’s governance and tokenomics. He aims to transition the ecosystem into a state of equilibrium in which it is entirely resilient to regulatory action, can scale while maintaining complete decentralization and has a positive community culture and engagement.
In his latest post on the community forum, Christensen revealed that the plan’s first phase kicks off in the summer.
Launch Season is upon us!
Endgame focuses MakerDAO towards scalable resilience and sustainable user growth: The goal is 100 billion Dai and beyond
Launch Season will bring the most important yield farming and UX features rapidly to market
More: https://t.co/gWLWBWpEq8
(1/9) pic.twitter.com/Xujg04uYX2
— Rune (@RuneKek) March 12, 2024
Christensen revealed that the complete overhaul would start with revealing a new brand. This new look will focus on “simplicity and user adoption,” he stated. Non-US participants who register for the launch airdrop stand to earn bonus yield.
A month later, the ecosystem will dive into the launch of two new tokens under the tentative names NewStable and NewGovToken. The actual names of the new tokens will be revealed during the brand launch. Dai and MKR, the ecosystem’s stablecoin and governance tokens, respectively, will remain in circulation, but their owners will have the option of upgrading to the new tokens.
As can be deduced from the names, NewStable will be the upgrade to the stablecoin Dai, while the MKR upgrade will be NewGovToken. However, with the latter, one MKR token will upgrade to 24,000 NewGovTokens.
Endgame Plan—The Future of MakerDAO
After the new brand and tokens, the next stage will be the Lockstake Engine (LSE) launch. According to Christensen, this engine encourages long-term commitment for MKR and NewGovToken holders through yield farming.
After Token Launch comes Lockstake Engine (LSE)
LSE allows NewGovToken and MKR holders to earn 30% of Makers surplus as yield (non-US only)
In return for this yield, and to promote long term participation, the LSE has a 15% exit fee
(4/9)
— Rune (@RuneKek) March 12, 2024
Holders will receive new Dai and NewStable tokens by locking their MKR and NewGovToken tokens on the LSE. They will also receive tokens from SubDAO platforms, including the SPK token from Spark SubDAO. In the MakerDAO ecosystem, SubDAOs are semi-independent specialized DAOs that link to Maker Governance, each with its own unique token.
Holders who choose to exit the LSE will have to pay a 15% fee, subtracted from the original stake, which the protocol will burn.
The next stage will be the launch of NewBridge. According to Christensen, NewBridge—which is also a placeholder name that will be changed at launch—will connect all MakerDAO ecosystem tokens to a new Ethereum Layer 2.
The founder added:
NewBridge enables low-cost native farming of tokens on the supported L2, giving low-cost access to all users. By integrating with a major L2 first, the ecosystem can take full advantage of the new Ethereum Dencun network upgrade that makes L2 transactions cheaper.
Other ventures will include the launch of SubDAOs for specified use cases, the launch of lending services through SparkLend, the tokenization of real-world assets, and the scaling up of all ecosystem products.
The final phase will be the launch of NewChain, a new Layer 1 that will host MakerDAO, which currently lives on Ethereum. However, Christensen maintained that it will not leave Ethereum and that all existing user-facing products built on Ethereum will remain.