The ‘Endgame’ is Near: Maker’s Plan to Unleash 100B DAI and Outshine Tether

Last Updated on March 13, 2024

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Key Takeaways:

  • Aimed at scaling its Dai stablecoin beyond a $100 billion market cap to rival Tether, MakerDAO is initiating the “Endgame” plan, starting with a comprehensive rebranding and the introduction of new tokens to simplify and invigorate the platform.
  • The introduction of “NewStable” and “NewGovTokens” is set to redefine MakerDAO’s token landscape.
  • The “Endgame” encompasses several phases, from rebranding and new token launches to the introduction of specialized DAOs and a dedicated blockchain (“NewChain”).

The decentralized finance (DeFi) innovator, MakerDAO, is on the cusp of unveiling the first segment of its ambitious “Endgame” strategy, signaling a pivotal evolution with rebranding endeavors, the introduction of new digital tokens, and the expansion of its Dai stablecoin offering.

The groundbreaking “Endgame” initiative of MakerDAO is steering the platform towards a trajectory of enhanced resilience and consistent user growth. This insight was shared by Rune Christensen, a co-founder, highlighting the platform’s journey towards launching its multifaceted four-phase plan.

The initial phase, earmarked for mid-2024, involves engaging a marketing firm to reimagine the platform’s brand identity, aiming for simplicity and engagement.

A cornerstone of the Endgame strategy is the dramatic scaling of Dai, the platform’s decentralized stablecoin. The objective is ambitious: to elevate Dai’s market presence from its current valuation of $4.5 billion to surpass the 100 billion mark, directly challenging the dominance of Tether in the stablecoin arena.

Dai stablecoin

Christensen’s vision extends beyond market capitalization; he aims to invigorate the DeFi space with “fun savings” opportunities. This involves yield farming new tokens from innovative “SubDAO” projects, blending entertainment with financial growth.

The rebranding phase paves the way for the introduction of novel tokens, temporarily termed “NewStable” and “NewGovTokens,” pending the unveiling of their official names. A noteworthy reconfiguration will see the conversion of each Maker (MKR) token into 24,000 NewGovTokens, offering non-U.S. NewStable token holders the opportunity to farm 600 million NewGovTokens annually.

Christensen promises these upgrades will introduce “optional upgrades for Dai and MKR with new features,” significantly enhancing the yield farming and user experience aspects of the platform.

Stable Coin concept

The DeFi sector is abuzz with anticipation, awaiting the launch of the “Lockstake Engine” (LSE), a new system that allows holders of NewGovToken and MKR to generate yields on their locked tokens. This will be complemented by “NewBridge,” a soon-to-be-renamed feature facilitating economical layer-2 yield farming, and the debut of SparkDAO, a lending-focused SubDAO.

Following the successful implementation of Phase 1, Phase 2 will focus on broadening the network with additional SubDAOs and bridges. This stage is expected to kick off towards the end of 2024 or into 2025, setting the stage for Phase 3’s launch of “NewChain,” a bespoke layer-1 blockchain designed to optimize tokenomics.

The culmination of the Endgame, Phase 4, envisions a future where Maker’s core governance solidifies into an immutable state, marking a new era of stability and innovation in the DeFi landscape.

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