Decentralized finance (DeFi) protocol MakerDAO proposed an optional rebranding scheme for its governance token MKR and stablecoin DAI on August 22, 2024. Under the plan:
- 1 MKR converts to 24,000 NewGovToken (NGT).
- 1 DAI converts to 1 NewStable (NST).
This initiative is part of MakerDAO’s upcoming Endgame Plan, designed to decentralize governance and enhance scalability.
Key Details of the Transition
Governance Democratization
- MKR → NGT: The conversion aims to broaden governance participation by enabling more users to hold significant quantities of NGT, democratizing decision-making.
- Existing MKR and DAI will remain operational, allowing users to switch between old and new tokens voluntarily.
Stablecoin Evolution
- DAI → NST: MakerDAO plans to differentiate Dai (crypto-native focus) and NewStable (mass-adoption focus) in the long term.
- Users can revert converted tokens back to original DAI/MKR, ensuring ecosystem flexibility.
"Endgame introduces upgraded versions of DAI and MKR—NewStable and NewGovToken—while preserving the originals unless governance decides otherwise."
— MakerDAO Official Announcement
FAQs
1. Will MKR and DAI become obsolete?
No. Both tokens will remain active unless governance votes to phase them out.
2. Is the conversion mandatory?
No, it’s optional. Users can continue holding MKR/DAI or convert to NGT/NST.
3. What’s the purpose of NewStable (NST)?
NST targets broader adoption, while DAI retains its crypto-native utility.
👉 Explore MakerDAO’s latest updates for deeper insights into the Endgame Plan.