Hassan Maishera
MakerDAO announced via X on Friday that it is set to launch two new tokens, NewStable and NewGovToken. The team explained that NewStable (NST) is the codename for the upgraded version of Dai, tailored for broader adoption and designed with enhanced stability features. The official name will be unveiled through the brand reveal.
Meanwhile, NewGovToken (NGT) represents a refined approach to governance within our ecosystem. The token is designed to encourage wider participation and more dynamic decision-making.
Dai holders can seamlessly upgrade to NewStable, enjoying the flexibility to revert back to Dai as desired. Also, each Maker token (MKR) can be converted into 24,000 NGT. This redenomination aims to encourage wider participation in governance activities, the team concluded.
MakerDAO is a Decentralized Finance (DeFi) project with a crypto-collateralized, stablecoin DAI pegged to the US dollar. Its community manages the coin via a Decentralized Autonomous Organization (DAO). MKR is trading at $2,887, up by 1% in the last 24 hours.
