The report discusses the future of MakerDAO, a cornerstone of DeFi. The report highlights the challenges faced by MakerDAO, such as fragmented objectives and declining profits, since the Maker Foundation handed over complete control to MKR governance in July 2021. To address these issues, Maker co-founder Rune Christensen proposed a decade-long masterplan known as the Endgame, which was accepted by the MKR governance in October 2022. The Endgame aims to simplify Maker’s core governance structure and reduce the protocol’s dependence on centralized collateral. The report also discusses the phased approach to implementing the Endgame strategy.
- Understanding the Endgame: The Endgame is an ambitious long-term roadmap for MakerDAO. It aims to simplify Maker’s core governance structure and reduce the protocol’s dependence on centralized collateral. This shift away from high-revenue collateral types will likely be challenging.
- Phased Approach to the Endgame: The Endgame will be implemented in phases. The first phase involves unifying Maker’s ecosystem, including rebranding Dai and MKR. The second phase involves the launch of SubDAOs, new divisions within MakerDAO with their own tokens and governance processes.
- Impact on DeFi Landscape: The implementation of the Endgame strategy will have significant implications for the DeFi landscape. It will be important for stakeholders to monitor the progress of the Endgame implementation and its impact on MakerDAO’s position within the DeFi ecosystem.