- The two new tokens released by MakerDAO are NewStable (NST) and NewGovToken (NGT).
- NST replaces Dai and offers upgraded features, while NGT replaces MKR and supports broader governance participation.
- Existing Dai and MKR holders can convert to the new tokens or continue using their current assets.
MakerDAO, the decentralized autonomous organization that oversees the Maker Protocol, announced the introduction of two new tokens: NewStable (NST) and NewGovToken (NGT).
This token represents an important milestone in the evolution of MakerDAO and provides improved stability and governance features within the ecosystem.
NewStable (NST) Token
The NewStable (NST) token represents an upgraded version of Dai, designed to promote broader adoption and provide advanced stability features.
Existing Dai holders will have the option to seamlessly upgrade to NST while retaining the flexibility to convert their holdings back to Dai at any time.
Additionally, NST holders will be able to engage in farming activities to earn NewGovTokens (NGT) from the moment of launch.
NewGovToken (NGT) Token
The NewGovToken (NGT) token serves as a new governance token within the MakerDAO ecosystem and provides Maker (MKR) holders the opportunity to upgrade their token.
Each MKR token will be converted to 24,000 NGT during the upgrade process and will be strategically redistributed to encourage broader participation in governance activities. This initiative aims to enable more users to hold a significant number of NGTs, allowing them to actively influence the future direction of the MakerDAO ecosystem.
MakerDAO scales its product while maintaining flexibility.
With the introduction of NST and NGT, MakerDAO is expanding its product while maintaining flexibility for users.
The upcoming brand reveal will officially introduce these tokens into the ecosystem, giving users access to new features and opportunities.
In addition to launching tokens, MakerDAO is also exploring investment opportunities to further strengthen its ecosystem. The plan includes investing $600 million in DAI in USDe and staked USDe (sUSDe) through Morpho Labs’ DeFi lending protocol. These investments aim to support the development and growth of stablecoin assets within the DeFi space.