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MakerDAO Unveils NewStable and NewGovToken Ahead of Launch Season

Published 05/04/2024, 10:31 PM
Updated 05/04/2024, 10:45 PM
MakerDAO Unveils NewStable and NewGovToken Ahead of Launch Season
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  • MakerDAO announces NewStable and NewGovToken to improve stability and governance.

  • Token holders can easily upgrade from DAI to NST and MKR to NGT, with a 24,000:1 redenomination for NGT.

  • The launch includes farming opportunities for NST holders, excluding U.S. residents and VPN users.

MakerDAO, the pioneering Ethereum-based protocol known for its DAI stablecoin, is gearing up for a significant evolution in its ecosystem. As anticipation builds for the upcoming launch season, the protocol has announced the introduction of two new tokens. Specifically, MakerDAO is introducing NewStable and NewGovToken to enhance the platform’s stability and governance.

Notably, the proposed new tokens are part of Maker’s broader strategy to foster adoption and participation. NewStable, codenamed NST, is an upgraded version of DAI that promises to offer improved stability features. The official name will be disclosed during the eagerly awaited brand reveal.

In parallel, New…

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