MakerDAO, the decentralized autonomous organization (DAO) behind the popular stablecoin DAI, announced a major transformation on its platform, dubbed “Endgame,” aiming to increase the DAI supply to over $100 billion. On the other hand, a new altcoin will enter the market in Solana’s Tensor ecosystem.
Two new altcoin announcements on MakerDAO
Proposed nearly two years ago and voted on in August 2022, Endgame aims to take MakerDAO to a new level of growth, flexibility, and accessibility. Launch Season, the first phase of Endgame, has begun. This season, the most important product improvements and user experience features will be brought to market quickly. The first step of Launch Season will be Brand Reveal, which will introduce a brand new look and feel to the ecosystem designed for simplicity and user adoption.
Bonus returns will be offered to early users who sign up for the Launch Airdrop on the new website. Later, NewStable (new stablecoin) and NewGovTokens (new governance token, real names to be revealed later) will be introduced as optional updates to DAI and MKR. MKR will be upgraded to NewGovToken at a rate of 1:24,000 and NewStable holders will be able to earn 600 million NewGovTokens per year.
What will NewBridge and Lockstake Engine do?
After the Token Launch phase, the Lockstake Engine (LSE) will be implemented, allowing NewGovToken and MKR holders to earn Maker’s surplus with a 30% return. The LSE will impose a 15% exit fee to encourage long-term participation.
Launch Season will also feature NewBridge (a new bridge, actual name to be revealed later), which will be available on a large layer 2 network. This means all of Launch Season’s yield farming features are available to everyone at low fees.
Additionally, the pinnacle of Launch Season will be the anticipated launch of Spark SubDAO, which claims to offer innovative DeFi products backed by MakerDAO’s scale and track record. The CMB token will be farmable by anyone with NewStable and NewGovToken through the LSE.
Tensor also issues tokens
Solana-based NFT trading platform Tensor also announced on Tuesday that it will launch the $TNSR token that will govern the protocol. The Tensor Foundation said more details about the token will be coming “soon.” The $TNSR token aims to decentralize the management of the Tensor protocol and provide greater control to users of the platform. $TNSR token holders will have the power to make critical decisions about the future of the protocol, including:
- Fees: How transaction fees on the platform will be determined and allocated.
- New Features: Selection of new features and functions to be added to the platform.
- Treasury Management: Deciding how treasury funds will be used to support community-funded projects and initiatives.
$TNSR tokens will be distributed via airdrop to users who actively use the platform and contribute to the community. A portion of the tokens will also be allocated to the Tensor team and investors. cryptokoin.com As we reported, Tensor is one of the most popular NFT trading platforms on Solana. The platform controls more than 70% of Solana’s NFT trading volume, with more than $2 billion in NFT trading volume.
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