Maker's Bold Move: 1:24,000 Token Split, Two New Stablecoins
$MKR all set to do a 1:24,000 split, making their tokens much more accessible to the public.
The project will be launching two new attractive stable coins and a token as part of their Endgame Plan
Top VCs like Dragonfly and Electric Capital are already long on this 🧵
In a "Stablecoin Trilemma," stablecoins must choose two out of three: dollar peg, pure decentralization, or scalability.
@MakerDAO plans to capitalize on this by exploring options like integrating RWA collateral with TradFi or focusing on decentralized collateral
What is Maker & $DAI?
Maker is a CDP protocol that issues the $DAI token, one of the leading decentralized stablecoins with currently over $5.5B in circulation.
Users get to mint $DAI at a 150% collaterization ratio by depositing $BTC or $ETH.
This means that each $1 of $DAI is backed by $1.50 in crypto assets
$DAI’s price stability is achieved through arbitrage, where users mint or redeem DAI to maintain its $1 peg.
The token is also is used in DeFi for transactions, collateral, and earning yield through the Daily Savings Rate (DSR)
https://x.com/MakerDAO/status/1798779167275929902
You can also stake $DAI for $sDAI – allowing them to earn the DSR for 8% APY.
This makes holding $DAI and $sDAI attractive, as users generate yield on their stablecoin.
Now, a quick overview of $MKR.
$MKR acts as the governance and utility token of the Maker ecosystem.
MKR holders get to vote on key MakerDAO mechanisms — such as stability fees, collateral types, and other critical parameters.
Back in October 2022, MakerDAO approved Rune Christensen's proposal to implement a Constitution for governance, development, and investment of reserves.
This was Maker’s Endgame Plan
The Endgame plan included investment into RWAs, establishing SubDAOs for decentralized decision-making, and creating new stablecoins NewStable and PureDai.
Not only that, but a NewGovToken to replace $MKR as well.
These coins are set to launch very soon, and users can choose to migrate their $DAI to either NewStable or PureDai.
Newstable will be focusing on creating a regulatory complaint stablecoin backed by RWAs.
It will be launching in end of 2024 and has a massive potential to spearhead the next wave of the RWA season.
It will also remain attached to MakerDAO, retaining all benefits.
https://x.com/MakerDAO/status/1786447774113825106
PureDAI is rooted in $DAI's ideology, and will use collaterals like $ETH and $stETH, with decentralized oracles and no governance.
After its launch in 2025/2026, PureDAI will have no permanent link to Maker, and users can migrate their $DAI to PureDAI.
https://x.com/RuneKek/status/1791212957696680047
As for the NewGovToken,it will retain the utility of MKR and be airdropped to users at the rate of 1:24,000 units.
This means that for every $MKR a user has, they will get 24,000 NewGovToken.
Pretty insane right?
With the Newstable’s launch set very soon, don’t miss out the chance to capitalize on it and earn points and potential airdrops:
Connect wallet to NewStable’s user interface
Interact and farm
Deposit $DAI to receive NewStable
That’s not all, MakerDAO has a stacked roadmap lined up ahead.
Here are the five phases of the Endgame Plan -
Maker’s Endgame rollout could turn the tides as the project evolves into a more scalable ecosystem of modular protocols.
The upcoming rebrand as well as the airdrops will push Maker to new heights.
"...making their tokens much more accessible to the public." Not accurate. It's crypto, you don't have to buy a whole $MKR if you can't afford it. It's really just tokenomics game theory.