MakerDAO Unveils Two New Crypto Assets That Will Serve as Upgraded Versions of MKR and DAI

Decentralized blockchain protocol MakerDAO has announced an upgrade to the DAI and MKR tokens. The platform has released two new assets, NewStable and NewGovToken, that will exist alongside DAI and MKR. This is part of MakerDao’s Endgame plan to improve the protocol’s governance and tokenomics. In an August 22 post on social media platform X, the platform informed the community of the upgrade, stating that DAI and MKR will remain usable unless further changes occur.

According to the release, DAI holders can upgrade to NewStable with the ability to return, as 1 DAI will equal 1 NewStable. While both assets will operate concurrently, the ecosystem will ultimately differentiate their features, with NewStable aiming to drive mass adoption and DAi focusing on cryptocurrency use cases.

On the other hand, NewGovToken will be put up for voting in the same way as MKR, with an effective conversion between both assets. One MKR will be equal to 24,000 NGT. This will increase community participation as more users will be able to hold the token to influence decisions in the ecosystem. At the time of writing, the price of MKR is $2,033, up 2% in the last 24 hours.

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