Updated: August 23, 2024 3:18 AM EDT
MakerDAO is a decentralized autonomous organization. die die
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MakerDAO stated that the purpose of the rebalancing is to allow more users to hold significant amounts of the new governance token, NGT, thereby enabling broader participation in platform governance and democratizing the decision-making process.
Along with the introduction of NGT, MakerDAO will also be launching a new stablecoin, NewStable (NST), pegged 1:1 to Dai. Existing Dai and MKR tokens will remain active, allowing users to choose between the original token and the new token.
MakerDAO stated that “the two tokens are not expected to change for the time being unless governance decides otherwise.”
The proposal emphasizes user choice, stating that upgrading to NewStable and NewGovToken is optional. Users who switch to the new tokens can still revert to their original Dai and MKR, thus keeping the MakerDAO ecosystem flexible.
MakerDAO added that its ecosystem “will ultimately find ways to differentiate Dai.” According to the DAO, Dai can continue to focus on crypto-based use cases in this setup, while NewStable can aim for mass adoption.
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