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MakerDAO Unveils ‘Endgame’ Project to Transform Lending Platform and Boost Dai Supply
MakerDAO has announced the launch of its “Endgame” project, aiming to transform the lending platform for greater accessibility and success. The primary objective of this initiative is to increase the supply of the protocol’s Dai stablecoin to a substantial 100 billion tokens.
The Endgame launch will occur in phases, starting with the “Launch Season” in summer 2024. This phase will introduce a new brand identity and two new tokens, NewStable and NewGovToken, whose official names will be revealed at the brand reveal event. Existing Dai and MKR token holders will have the opportunity to upgrade to the new features these upcoming releases will introduce.
Launch Season is upon us!
Endgame focuses MakerDAO towards scalable resilience and sustainable user growth: The goal is 100 billion Dai and beyond
Launch Season will bring the most important yield farming and UX features rapidly to market
More: https://t.co/gWLWBWpEq8
(1/9) pic.twitter.com/Xujg04uYX2
— Rune (@RuneKek) March 12, 2024
NewStable token holders will be able to earn NewGovToken through yield farming at a rate of 600 million tokens per year. However, due to regulatory constraints, this opportunity will not be available to US residents or users accessing the platform through virtual private networks (VPNs).
After the introduction of the NewGovToken, the protocol will progress to the launching of the Lockstake Engine (LSE), which will incentivize long-term participation, as users can lock their MKR or NewGovToken to earn NewStable and SubDAO tokens. MakerDAO will distribute 30% of its surplus income as NewStable rewards to LSE users and an equivalent percentage of Spark’s SPK tokens to LSE users participating in SPK yield farming.
Users who received NewGovTokens during the brand reveal will acquire them through the Launch Airdrop, granting them access to the benefits of the LSE. Additionally, introducing NewBridge will establish connectivity between different tokens within the Maker Ecosystem and a specialized Layer 2 (L2) network. This integration will facilitate more cost-effective and efficient token farming.
SPK Token and Governance: Fueling Spark’s Growth
The MakerDAO’s release emphasizes Spark’s importance as the Launch Season’s highlight. Spark is a community-driven component of the Maker Ecosystem, focusing on lending and decentralized finance (DeFi). SparkLend, its lending engine, allows users to employ their crypto assets as collateral to generate Dai and, in the future, NewStable tokens.
Spark was Maker’s first SubDAO, launched a year ago. It has already gained strong recognition, ranking globally as the 9th largest DeFi platform by Total Value Locked (TVL). Spark will have its native token, SPK, which can be earned by LSE and NewStable users through yield farming on the Ethereum mainnet and a major Layer 2 (L2) solution.
Over the next decade, 4 billion SPK tokens will be distributed, with varying farming rates for NewStable and LSE users. Spark’s governance is controlled through SPK token voting, initially focusing on marketing and the Spark Purpose System, with progressively increasing responsibilities over time. The final launch phase, the final endgame, is expected to bring everything together and establish a strong ecosystem with good governance.
MakerDAO Unveils ‘Endgame’ Project to Transform Lending Platform and Boost Dai Supply
