Research Summary
The report discusses MakerDAO’s plan to split its MKR token 1:24,000, making it more accessible. It also outlines the launch of two new stablecoins and a token as part of MakerDAO’s Endgame Plan. The report further delves into the functionality of the DAI token and the upcoming changes in MakerDAO’s governance structure.
Key Takeaways
MakerDAO’s Token Split
- Increased Accessibility: MakerDAO is planning a 1:24,000 split of its MKR token. This move is aimed at making the tokens more accessible to the public.
New Stablecoins and Token Launch
- Endgame Plan: As part of its Endgame Plan, MakerDAO is launching two new stablecoins, NewStable and PureDai, and a new governance token, NewGovToken. These new offerings are expected to enhance the project’s scalability and decentralization.
DAI Token Functionality
- Stablecoin Utility: The DAI token, issued by MakerDAO, is a leading decentralized stablecoin with over $5.5B in circulation. Users can mint DAI at a 150% collateralization ratio by depositing BTC or ETH, making each $1 of DAI backed by $1.50 in crypto assets.
Changes in Governance Structure
- Constitution Implementation: In October 2022, MakerDAO approved a proposal to implement a Constitution for governance, development, and investment of reserves. This is part of MakerDAO’s Endgame Plan, which includes investment into Real World Assets (RWAs), establishing SubDAOs for decentralized decision-making, and creating new stablecoins.
MakerDAO’s Roadmap
- Endgame Plan Phases: The report outlines the five phases of MakerDAO’s Endgame Plan, which includes rebranding, reducing information asymmetry, and preparing for mass adoption of its stablecoin. This roadmap could potentially transform MakerDAO into a more scalable ecosystem of modular protocols.
Actionable Insights
- Monitor the Impact of Token Split: Investors and market watchers should closely monitor the impact of the MKR token split on its accessibility and market dynamics.
- Assess the Potential of New Stablecoins: The launch of NewStable and PureDai presents an opportunity to assess the potential of these new stablecoins in the decentralized finance (DeFi) space.
- Understand the Implications of Governance Changes: The changes in MakerDAO’s governance structure could have significant implications for its operations and the broader DeFi ecosystem. Stakeholders should understand these implications to make informed decisions.
- Track the Progress of MakerDAO’s Roadmap: The progress of MakerDAO’s Endgame Plan could provide insights into the project’s future direction and potential growth opportunities.
