Introduction
MakerDAO, a decentralized finance (DeFi) lending platform, has unveiled ambitious plans for a major restructuring under the “Endgame” initiative. The initiative aims to revitalize the platform and drive adoption of its stablecoin, DAI.
New Stablecoin and Governance Token
As part of the restructuring, MakerDAO will introduce a new stablecoin and governance token. These tokens will be upgraded versions of the current DAI stablecoin and MKR governance token, respectively, and are expected to be released within several months.
The new stablecoin will be a wrapped version of DAI, potentially expanding its reach and increasing its usability across different protocols. Additionally, MakerDAO will implement incentives for protocols that integrate the new token.
The new governance token will have a larger supply than MKR and will provide access to MakerDAO’s AI-assisted governance tools. These tools will simplify the governance process and enable token holders to generate proposals and verify governance rules.
Integration of Artificial Intelligence
MakerDAO also plans to incorporate artificial intelligence (AI) into its governance processes. This integration aims to enhance the efficiency and transparency of decision-making.
The AI-assisted governance tools will allow token holders to easily summarize and verify governance rules and proposals.
Restructuring Details and Goals
The restructuring includes breaking up MakerDAO’s decentralized autonomous organization (DAO) structure into smaller, self-governing SubDAOs. These SubDAOs will have their own tokens within the MakerDAO ecosystem.
The Endgame initiative has a short-term objective of establishing MakerDAO as the largest and most widely used stablecoin project within three years.
Current Token Status
MakerDAO’s current tokens, DAI and MKR, will continue to exist without any immediate changes. Users will be able to upgrade their holdings to the new assets without fees or limitations.
Both the new stablecoin and governance token will offer yield farming opportunities for holders to earn rewards. However, investors based in the U.S. and VPN users will be restricted from accessing farming opportunities.
Conclusion
MakerDAO’s restructuring marks a significant milestone in the evolution of the DeFi lending landscape. The introduction of a new stablecoin, governance token, and AI integration aims to address challenges and accelerate the adoption of its stablecoin, DAI.
The success of MakerDAO’s restructuring will depend on the effective implementation of its plans and the support of its community. As the DeFi industry continues to evolve, MakerDAO’s Endgame initiative positions it as a potential leader in the stablecoin market.
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