On Thursday (22nd), MakerDAO, a decentralized finance (DeFi) protocol, proposed an optional revaluation scheme for its governance token MKR and stablecoin DAI. Each MKR can be converted into 24000 NewGovTokens (NGT); Each DAI can be converted into one NewStable (NST). This is part of its upcoming 'Endgame' project.

MakerDAO pointed out that the purpose of MKR's currency reset is to enable more users to hold a large number of new governance tokens NGT, in order to achieve broader governance participation and democratize the decision-making process. In terms of stablecoins, MakerDAO stated that its ecosystem will eventually "explore ways to distinguish between Dai and NewStable," with Dai potentially focusing on native crypto applications, while NewStable may aim for large-scale adoption.

The existing Dai and MKR tokens will continue to operate, allowing users to choose between existing tokens and new tokens according to their own wishes. Users can also restore the converted new tokens to their original DAI and MKR, ensuring the resilience of the MakerDAO ecosystem. MakerDAO stated that unless otherwise decided by governance, the two new tokens are expected to remain unchanged in the foreseeable future.

data source

Related articles: "MakerDAO will launch the first phase of 'endgame' in the summer and launch two new tokens" "a16z, Paradigm and other VCs have sold out MKR, MakerDAO and VCs' love hate relationship"