MakerDAO Plans Launch of Two New Tokens
MakerDAO is preparing to introduce two new tokens, NewStable (NST) and NewGovToken (NGT), signaling a significant phase in its development.
NewStable (NST) is an upgraded version of Dai, aimed at enhancing adoption and stability. NewGovToken (NGT) focuses on improving governance within the MakerDAO ecosystem, promoting wider participation and dynamic decision-making.
As the launch season approaches, MakerDAO is preparing to introduce two new tokens – NewStable and NewGovToken.
Explore the details below ↓ pic.twitter.com/twFAVkE1nZ
— Maker (@MakerDAO) May 3, 2024
Holders of these tokens will have a smooth conversion experience. Dai holders can seamlessly transition to NewStable, with the flexibility to revert back to Dai when needed. Each Maker (MKR) token can be converted into 24,000 NGT, encouraging broader engagement in governance activities.
These new tokens will complement, rather than replace, existing Dai (DAI) and Maker (MKR) tokens. However, holders of existing tokens can choose to transition to NST and NGT, with the option to revert back to Dai.
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NewStable token holders will have access to farming opportunities to earn NGT, excluding United States residents and VPN users.
MakerDAO is also considering a significant investment in DAI into USDe and staked USDe (sUSDe) through Morpho Labs’ DeFi lending protocol, reflecting its commitment to expanding its ecosystem.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
