As the launch season approaches, MakerDAO is preparing to introduce two new tokens - NewStable and NewGovToken.
Explore the details below ↓
Explore the details below ↓
After the upcoming brand reveal, the new tokens will be introduced into the ecosystem.
NewStable (NST) is the codename for the upgraded version of Dai, tailored for broader adoption and designed with enhanced stability features. The official name will be unveiled through the brand reveal.
NewGovToken (NGT) represents a refined approach to governance within our ecosystem. It’s designed to encourage wider participation and more dynamic decision-making. The final name will also be shared through the brand reveal.
The conversion process for token holders is straightforward:
• For NewStable (NST): Dai holders can seamlessly upgrade to NewStable, enjoying the flexibility to revert back to Dai as desired.
• For NewGovToken (NGT): Each Maker token (MKR) can be converted into 24,000 NGT. This redenomination aims to encourage wider participation in governance activities.
These additions represent an expansion and will not replace the existing Dai (DAI) and Maker (MKR) tokens. Users will have the option to transition to NewStable and NewGovToken.
Now, let’s talk about key functionalities:
NewStable (NST) is the codename for the upgraded version of Dai, tailored for broader adoption and designed with enhanced stability features. The official name will be unveiled through the brand reveal.
NewGovToken (NGT) represents a refined approach to governance within our ecosystem. It’s designed to encourage wider participation and more dynamic decision-making. The final name will also be shared through the brand reveal.
The conversion process for token holders is straightforward:
• For NewStable (NST): Dai holders can seamlessly upgrade to NewStable, enjoying the flexibility to revert back to Dai as desired.
• For NewGovToken (NGT): Each Maker token (MKR) can be converted into 24,000 NGT. This redenomination aims to encourage wider participation in governance activities.
These additions represent an expansion and will not replace the existing Dai (DAI) and Maker (MKR) tokens. Users will have the option to transition to NewStable and NewGovToken.
Now, let’s talk about key functionalities:
NewStable
• NewStable will be accessible to both new users and existing Dai holders. Existing users can upgrade their Dai, with the flexibility to convert their holdings back to Dai whenever they choose.
• NST holders can engage in farming to earn NGT right from launch.
• 600 million NGT will be distributed annually to participating NST holders through farming.
• Farming will not be available to US residents or users employing VPNs.
• The official name of NST will be unveiled through the new brand reveal.
• NewStable will be accessible to both new users and existing Dai holders. Existing users can upgrade their Dai, with the flexibility to convert their holdings back to Dai whenever they choose.
• NST holders can engage in farming to earn NGT right from launch.
• 600 million NGT will be distributed annually to participating NST holders through farming.
• Farming will not be available to US residents or users employing VPNs.
• The official name of NST will be unveiled through the new brand reveal.
NewGovToken
• MKR holders will have the option to upgrade their tokens to NewGovToken, the new governance token within the ecosystem. Importantly, this upgrade process offers seamless conversion back to MKR, ensuring flexibility for users.
• The total supply of NewGovToken has been strategically redenominated in comparison to MKR. Therefore, during the upgrade, each MKR will convert to 24,000 NewGovToken.
• This redenomination of NewGovToken (24,000 NewGovToken per 1 MKR) is intended to promote broader engagement in governance. It allows more users to hold a significant number of NewGovToken and actively influence the future of the ecosystem.
• The official name of NewGovToken will be revealed through the new brand reveal.
• MKR holders will have the option to upgrade their tokens to NewGovToken, the new governance token within the ecosystem. Importantly, this upgrade process offers seamless conversion back to MKR, ensuring flexibility for users.
• The total supply of NewGovToken has been strategically redenominated in comparison to MKR. Therefore, during the upgrade, each MKR will convert to 24,000 NewGovToken.
• This redenomination of NewGovToken (24,000 NewGovToken per 1 MKR) is intended to promote broader engagement in governance. It allows more users to hold a significant number of NewGovToken and actively influence the future of the ecosystem.
• The official name of NewGovToken will be revealed through the new brand reveal.
In a nutshell, what’s next?
• Access to new features and opportunities: By transitioning to the updated tokens, you'll gain access to the latest functions in the upcoming stage of the Maker ecosystem.
• Flexibility and choice: You have the option to continue using Dai and MKR or switch to the new tokens when it suits you.
• This is a glimpse into the future: The new ecosystem will introduce new Farming products and the Lockstake Engine to boost participation. These tools encourage engagement and provide entry into our ever-evolving ecosystem, appealing to both new and existing users.
To stay updated with the Maker ecosystem, please stay tuned to the Maker Forum ↓
forum.makerdao.com
• Access to new features and opportunities: By transitioning to the updated tokens, you'll gain access to the latest functions in the upcoming stage of the Maker ecosystem.
• Flexibility and choice: You have the option to continue using Dai and MKR or switch to the new tokens when it suits you.
• This is a glimpse into the future: The new ecosystem will introduce new Farming products and the Lockstake Engine to boost participation. These tools encourage engagement and provide entry into our ever-evolving ecosystem, appealing to both new and existing users.
To stay updated with the Maker ecosystem, please stay tuned to the Maker Forum ↓
forum.makerdao.com
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