A leading platform in decentralized finance (DeFi) MakerDAO, to the ecosystem NewStable (NST) And NewGovToken (NGT) announced that it plans to offer two new tokens: The official names of these tokens will be announced at an upcoming brand launch.
NewStable was introduced as the codename for an upgraded version of Dai, MakerDAO’s existing stablecoin. According to the official statement, this new token is designed for wider adoption and comes with improved stability features. According to the statement, there will be a possibility of constantly returning from this token to DAI, another stablecoin.
Maker (MKR) will launch two new tokens: codenamed NewStable and NewGovToken.
— Bitcoin System (@bitcoinsistemi) May 3, 2024
In addition, NST holders will have the opportunity to farm to earn NGT from launch. A total of NGT 600 million will be distributed annually to participating NST holders through farming.
According to the statement, NewGovToken represents a refined approach to governance in the MakerDAO ecosystem. It is designed to encourage broader participation and more dynamic decision-making processes. Each Maker (MKR) token can be converted into 24,000 NGT.
The total supply of NewGovToken has been strategically renominated compared to MKR. Therefore, during the upgrade, each MKR will convert into 24,000 NewGovTokens. This revaluation of NewGovToken will result in more users owning NewGovToken in significant numbers.
According to the official statement, these innovations represent an expansion and will not replace the existing Dai (DAI) and Maker (MKR) tokens.
*This is not investment advice.
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