DeFi lending protocol MakerDAO announced that the first phase of its highly anticipated ‘Endgame’ is planned for a summer 2024 launch.
Phase 1 will involve the back-to-back release of all of Endgame’s major features. MakerDAO emphasized these as the essential drivers of growth. The objective is to rapidly establish a fully functional virtuous cycle where SubDAOs, tokenomics, the new brand, and new user acquisition strategies collaborate to fuel exponential Dai adoption.
According to a post by founder Rune Christensen on the project’s official governance forum, the first release of Phase 1 will reveal the new brand, which will be accompanied by a promotional website.
The brand introduction period will span a month, during which early adopters can enroll for a launch incentive that will boost their returns when the new tokens are accessible.
Following the unveiling of the new brand, two fresh tokens, NewStable and NewGovToken, will join the ecosystem after a month. The new names for the two tokens will be revealed during the brand reveal. Although Dai and MKR tokens will remain available, users can opt for NewStable and NewGovToken to enjoy the upcoming suite of new features.
Additional functionalities will be introduced after the debut of the new tokens. These include the Lockstake Engine, allowing users to secure their MKR or NewGovToken for extended durations to enhance risk/reward potential, and a novel, cost-effective bridge facilitating the linkage of Maker ecosystem tokens from Ethereum to a prominent Layer-2 network, the specifics of which are yet to be determined.
Next in line is “NewBridge” – its actual name is yet to be revealed – facilitating economic layer-2 yield farming. Phase 1’s conclusion involves the introduction of SparkDAO, the first SubDAO concentrating on lending.
Phase 2 will start after the launches of Phase 1 are realized. The successful deployment and operation of the Lockstake Engine, NewBridge, and the Spark SubDAO are prerequisites. Once the foundational elements of Endgame are established, Phase 2 will be dedicated to scaling.
Phase 3 involves the final technical iteration of Endgame with the establishment of NewChain – a standalone L1 blockchain designed to host the core tokenomics and governance mechanisms of Maker Core and the SubDAOs. It is also expected to serve as a hub for Real-World Assets (RWA), DeFi activities, and inter-blockchain bridging facilitated by the NewBridge system.
Phase 4 entails the activation of the Final Endgame, where all foundational governance mechanisms of Maker Core become immutable. This marks the realization of Endgame’s ultimate vision.
The post MakerDAO Sets Stage for Summer 2024 Debut of Endgame Phase 1 appeared first on CryptoPotato.
Phase 1 will involve the back-to-back release of all of Endgame’s major features. MakerDAO emphasized these as the essential drivers of growth. The objective is to rapidly establish a fully functional virtuous cycle where SubDAOs, tokenomics, the new brand, and new user acquisition strategies collaborate to fuel exponential Dai adoption.
MakerDAO’s Endgame Phase 1
According to a post by founder Rune Christensen on the project’s official governance forum, the first release of Phase 1 will reveal the new brand, which will be accompanied by a promotional website.
The brand introduction period will span a month, during which early adopters can enroll for a launch incentive that will boost their returns when the new tokens are accessible.
Following the unveiling of the new brand, two fresh tokens, NewStable and NewGovToken, will join the ecosystem after a month. The new names for the two tokens will be revealed during the brand reveal. Although Dai and MKR tokens will remain available, users can opt for NewStable and NewGovToken to enjoy the upcoming suite of new features.
Additional functionalities will be introduced after the debut of the new tokens. These include the Lockstake Engine, allowing users to secure their MKR or NewGovToken for extended durations to enhance risk/reward potential, and a novel, cost-effective bridge facilitating the linkage of Maker ecosystem tokens from Ethereum to a prominent Layer-2 network, the specifics of which are yet to be determined.
Next in line is “NewBridge” – its actual name is yet to be revealed – facilitating economic layer-2 yield farming. Phase 1’s conclusion involves the introduction of SparkDAO, the first SubDAO concentrating on lending.
The Subsequent Phases
Phase 2 will start after the launches of Phase 1 are realized. The successful deployment and operation of the Lockstake Engine, NewBridge, and the Spark SubDAO are prerequisites. Once the foundational elements of Endgame are established, Phase 2 will be dedicated to scaling.
Phase 3 involves the final technical iteration of Endgame with the establishment of NewChain – a standalone L1 blockchain designed to host the core tokenomics and governance mechanisms of Maker Core and the SubDAOs. It is also expected to serve as a hub for Real-World Assets (RWA), DeFi activities, and inter-blockchain bridging facilitated by the NewBridge system.
Phase 4 entails the activation of the Final Endgame, where all foundational governance mechanisms of Maker Core become immutable. This marks the realization of Endgame’s ultimate vision.
The post MakerDAO Sets Stage for Summer 2024 Debut of Endgame Phase 1 appeared first on CryptoPotato.
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