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Author: David C, Bankless, Twitter @MakerDao; Compilation: Deng Tong, Bitchain Vision
MakerDao is a DEFI giant established in 2014 and is responsible for the stabilization currency DAI. Most of the past year, it has been working hard to simplify its vision and enhance its ambition.
The plan is called “Endgame” (“Final Battle”).
The founder Rune Christensen said:
Endgame is a major update of MakerDao. It aims to improve efficiency, flexibility and participation by creating a strong governance balance. As the cornerstone of SubDao, it grows in parallel and product innovation in the emerging community -driven ecosystem.
Endgame’s core is to attract new users and funds to join the agreement by expanding use cases and expanding incentive measures.The purpose of this move is to enhance the position of DAI in the industry, increase the market share of centralized stablecoins such as USDT and USDC, and reduce dependence on centralized collateral.
Maker regards it as a kind of effort. By providing users with more diverse incentive structures in the Maker ecosystem, saving money is more interesting.
Endgame is an ambitious effort. It may take years to complete, and there are many activities to be followed.Christensen recently formulated an updated timetable. Let’s see what is in the Endgame plan?
Prepare for the Endgame’s release season.
The new version of the ENDGAME plan has been released at @Runekek on the maker forum.
Endgame further explained in detail and outlines the fundamental change of MakerDao to improve growth, elasticity and accessibility.
The following is the final goal of how Endgame will expand the supply of DAI to 100 billion:
The final Endgame route chart is described by 4 main stages.
1) Release season;
2) Expand the scale;
3) New blockchain;
4) Last endgame.
The first stage: release season
During the release season, all the main functions of Endgame will be released quickly and continuously.This stage is planned to start in the summer of 2024, including the following release content:
New brand announcement:
The first version is the announcement of the new MakerDao brand.
The new brand aims to convey the core pillar of the project: make the savings of stablecoin interesting and easy, and provide opportunities to easily acquire the new token.
The launch of this new brand will accompany an promotional website. Early adopors will register and receive bonuses on the website. When the new Big Bange is available, this will increase their benefits.
New token release:
One month after the new brand is displayed, two new token will be launched: NewStable and NewGovtoken (the actual name will be revealed through the new brand display).
Newstable, new version of DAI:
Newstable will be open to new users, and current DAI users will be able to upgrade at will.Newstable users can also freely convert it to DAI.
Newstable can invest in NewGovtoken from the date of launch.
American residents and VPN users will not be involved.
Newgovtoken, new version of MKR:
MKR holders will be able to upgrade its MKR to NewGovtoken, and NewGovtoken can also be converted back to MKR.
NewGovtoken’s supply is re -priced: 1 MKR is upgraded to 24,000 NewGovtoken.This means that each MKR holder can choose to get 24,000 NewGovtoken for each MKR that upgrade them.
LockStake Engine Start:
After the launch of the New Type, LockStake Engine (LSE) will start, which aims to keep the interests of stakeholders consistent with the success of the agreement and encourage long -term governance participation.
Passing the London Stock Exchange, MKR and NewGovtoken holders will be able to exchange to lock their tokens. One MKR is equivalent to 24,000 NewGovtoken.
Users who lock their tokens can generate NewStable from the protocol surplus and the upcoming SubDao token (including SPK).
The withdrawal fee of 15% when withdrawing from the London Stock Exchange will encourage long -term commitments and governance participation.
American residents or VPN users will not be able to use LSE.
NewGovtoken launched airdrop:
Early adopors will obtain NewGovtoken through the promotion website, and unlock it during launching the airdrop during LSE.This can immediately enjoy the benefits of the London Stock Exchange.
Newbridge launches:
After LSE is launched, Newbridge will be launched to connect Newstable, NewGovtoken, and other tokens from the Maker Ecosystem from Ethereum to the main L2.The official name of Newbridge will be announced during the brand conference.
Sparkdao Start:
The highlights of the release season are the long -awaited SPARKDAO, SPK token and SPK.
Spark provides innovative loans and DEFI products using MakerDao’s economic power.
In this release, the SPK tokens will be used as NEWSTABLE users on Ethereum main network and major L2’s revenue farms.Through this release, LSE users will be able to get SPK.
SPK tokens will be able to minimize newGovtoken immediately.This opportunity will be provided on the Ethereum main network and the main L2.
SPK liquidity mining will not be suitable for American residents and VPN users.
SPK tokens can be collected when SparkDao is launched.
The second stage: expand scale
The focus of the second stage is to expand the basic primitives of Endgame.
This means that more SUBDAO, such as Subdao, focusing on RWA or focusing on the game.A total of 6 SUBDAOs will start in the second stage.
Each Subdao will cater to different market segments and community interests.
Finally, Subdao will have complete autonomy to your activities within the range of MakerDao.
The implementation of SUBDAO governance will be supplemented with effective user interface and artificial intelligence -driven tools to promote and simplify governance decisions.
Third stage: NewChain
In the third stage, NewChain will be launched as an independent L1 blockchain.
It will be the host of the core token economy and governance mechanism of Maker Core and Subdao.
In addition, it will act as the hub of the Bridge of RWA, DEFI and blockchain through the Newbridge system.
NewChain is an extension of the Maker ecosystem.Its launch does not indicate that Maker intends to leave Ethereum.At present, all users on Ethereum will be retained and new products will be launched.
Once the Newchain starts and runs, the SubDao ecosystem will be able to expand infinitely and create more Subdao at a faster speed.
Fourth stage: final ending
With the activation of Final Endgame, Maker Core’s basic governance mechanism will be permanently locked.
This will realize the final vision of Endgame: based on a reliable and unchanged, sustainable financial infrastructure, and creating a dynamic and continuous development ecosystem.
Summarize
MakerDao’s Endgame strategy represents an undeniable ambition vision, that is, DAI expands a strong and diverse financial ecosystem.
In view of the various stages of Endgame for many years, and containing the same secondary plots as the Avengers movie, it is almost certain that some elements of this vision will change and evolve.In the next few months, several major governance changes will be introduced to prepare for this transformation.
In general, Endgame not only lays the foundation for DEFI, but also lays the foundation for DAO, and it is possible to reshape the governance mode.
The road ahead is still very long, but as one of the most basic DEFI agreements, MAKER has developed into a more sustainable entity, which aims to provide DEFI with a foundation that does not require licenses. This should be the efforts of everyone in the industry to shape and participate togetherEssence
