MakerDAO, a decentralized autonomous organization governing the Maker Protocol, has announced the launch of two new tokens – NewStable (NST) and NewGovToken (NGT). These tokens represent a significant step in MakerDAO’s evolution, offering improved stability and governance features within its ecosystem.
The NewStable (NST) token is an upgraded version of Dai, aimed at enhancing adoption and stability features. Current Dai holders can seamlessly transition to NST while still having the option to convert back to Dai as they please. NST holders will also have the opportunity to participate in farming activities to earn NGT from the moment of launch.
On the other hand, the NewGovToken (NGT) token acts as the new governance token in the MakerDAO ecosystem. MKR holders can upgrade their tokens to NGT, with each MKR token converting to 24,000 NGT during the process. This strategic redenomination is intended to encourage more participation in governance activities, giving users the power to influence the future direction of MakerDAO.
By introducing NST and NGT, MakerDAO is expanding its offerings while providing users with flexibility. The official brand reveal will mark the introduction of these tokens into the ecosystem, offering users access to new features and opportunities.
In addition to the token launch, MakerDAO is exploring investment opportunities to strengthen its ecosystem further. Plans include a 0 million investment in DAI into USDe and staked USDe (sUSDe) through Morpho Labs’ DeFi lending protocol. These investments aim to support the growth and development of stablecoin assets within the DeFi space.
