Stablecoin rivals emerge frequently, where will the final outcome of OG player MakerDAO go?

author:Fiona

Compiled by: Xiaobai Navigation coderworld

@MakerDAO What is Endgame?

As the stablecoin ecosystem continues to prosper, Maker, a veteran protocol in the DeFi field,DAO It is evolving by launching its new stablecoins NewStable and PureDai.

In this post, I will describe the current state of Maker and its future plans.

MakerDAO Background

MakerDAO 是一个 CDP 协议，发行 $DAIUsers can deposit $BTC,$ETH Or crypto assets on the whitelist, minted at a collateral rate of 150% $DAI.

$DAI The third-largest stablecoin by market cap, Maker accounts for about 40% of DeFi profits on Ethereum.

$DAI Uses

As a stable currency, $DAI It has been widely used in various DeFi applications. In addition, $DAI holders can pledge through the Dai Savings Rate (DSR) module and obtain an annual yield (APY) of approximately 8%. $sDAI.

$MKR Uses

MKR is the governance and utility in the Maker ecosystemTokenMKR holders can vote on MakerDAO’s mechanics, including stability fees, collateral types, and other key parameters.

MakerDAO’s Endgame Plan

Approved in October 2022, the plan lays the foundation for MakerDAO’s governance and upcoming developments.

Among the many projects, a key upgrade is the $DAI and $MKRTokenRename:

$DAI —> NewStable and PureDai

$MKR —> NewGovToken

Why was MakerDAO created?Xiaobai NavigationTwo successors to $DAI?

Because they realized that there was a demand for two different types of stablecoins in the market:Decentralization and compliance.They cater to both needs by offering two options.

Users can choose to migrate their $DAI to NewStable or PureDai.

$DAI —> NewStable

NewStable is the first successor to $DAI.

Expected to launch by the end of 2024, NewStable focuses on compliant RWA support, aims to integrate with traditional financial institutions and attract institutional liquidity into Web3. DSR will accumulate to NewStable instead of $DAI.

$DAI —> PureDai

PureDai is the second successor of $DAI.

Expected to launch in 2025/2026, PureDai focuses on full decentralization and uses purely decentralized collateral. Once launched, PureDai will no longer be permanently connected to MakerDAO.

$MKR —> NewGovToken

NewGovToken is the successor of $MKR.

NewGovToken will become the new governance of MakerDAOToken. It still maintains a connection with MakerDAO. $MKR holders can upgrade to NewGovToken at a ratio of 1:24,000.

Other Upgrades

In addition to the token replacement, the Endgame plan also includes:

• Locking the Staking Engine

• New Bridge Protocol

• More sub-DAOs for different market segments

• New Chain

What's next?

Maker is expected to launch NewStable by the end of 2024. Users can earn points and potential airdrops by:

• connectwalletTo the NewStable user interface

• Interact and pet

• Deposit $DAI to receive NewStable

The above is personal analysis and does not constitute financial advice, please DYOR.

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