Maker “Endgame” prepares to launch, aims to challenge Tether with 100B DAI

Author: Web3 Frontier

The DeFi lending pioneer prepares to launch the first phase of its "Endgame" plan , the plan starts with a rebrand, a new token and scaling up its Dai stablecoin.

Decentralized finance protocol MakerDAO is preparing to launch its much-anticipated "Endgame" transformation that will put the platform's focus on "scalable resiliency and sustainable user growth," co-founder Rune Christensen said. .

In a post on the MakerDAO forum on March 12 The first phase mid-year involved hiring an outside marketing firm to reshape the entire operation into something less complex and more fun.

Endgame's ultimate goal is to expand the protocol's decentralized stablecoin Dai

Dai Yi

$1.00

From the current market value of $4.5 billion to "$100 billion Above", equal to competitor Tether

Tether

USD 1.00

Tether p>

Christensen said another goal is to "make saving fun" through liquidity mining of the semi-autonomous "SubDAO" project's new token.

After the rebranding phase in mid-2024, a token launch phase will launch new tokens, called "NewStable" and "NewGovTokens" , until the real name is announced.

MakerDAO will reprice each Maker (MKR) token to 24,000 NewGovTokens. Additionally, NewStable token holders who do not reside in the United States can farm 600 million NewGovTokens per year.

Christensen said these will be "optional upgrades to Dai and MKR with new features."

Christensen added: "The launch season will quickly bring the most important liquidity mining and user experience features to the market."

Christensen said in an interview with Cointelegraph Magazine in January that MakerDAO hopes to “bring back the DeFi summer, but this time, it won’t end, nor will it. Will not return to zero."

After the new token is launched, the "Lockstake Engine" (LSE) will be launched, allowing NewGovToken and MKR holders to earn income from locked tokens.

This will be followed by the launch of "NewBridge" - whose real name will be announced later - enabling low-cost second-layer liquidity mining.

The last part of the first phase is the launch of SparkDAO, the first SubDAO focused on lending.

Launched in May 2023, the Spark protocol provides supply and borrowing capabilities for DAI and various cryptocurrencies.

Phase 2 involves scaling with more SubDAOs and bridges, and will begin upon successful completion of Phase 1 (likely late 2024 or 2025).

This will be followed by Phase 3, which will see the launch of “NewChain” – a purpose-built layer 1 blockchain for custodial token economics.

The fourth phase is the “endgame,” when Maker’s core governance becomes immutable.