MakerDAO (MKR) Will Launch Two New Tokens!

Bittime - MakerDAO (MKR), a decentralized finance (DeFi) platform, plans to launch two new tokens that signal a major step forward. These tokens are codenamed NewStable (NST) and NewGovToken (NGT). 

Both are designed to increase stability, expand use, and increase participation in governance.

Source: Twitter/X @MakerDAO

NewStable Becomes Dai's Replacement

NewStable aims to be the newest version of Dai, the stablecoin already provided by the MakerDAO platform. Although the official name has not been released, so far what we know is that NST will have better stabilization features, effective not only for experienced users but also for new users.

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The conversion process will be easy for existing Dai holders. Where, they can easily move their assets to NST or back to Dai at any time. 

Also read: Potential RWA Projects: Ondo, Maker, Pendle and Parcl

After that, NST owners get the opportunity to "earn NGT tokens" while the distribution has already started.

NewGovToken Strengthens MakerDAO Governance

The new governance token, NewGovToken, will be used to strengthen the rules in the MakerDAO governance process and involve more people. For this purpose, the total supply of NGT will be revalued compared to the current Maker (MKR) governance token.

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Maker plans to make each MKR 24,000 NGT. This allows more users to own a greater share of the shares, reduces unequal distribution, and makes more people co-owners of the platform and decision makers. 

Also read: What is DAO?

Just like NST, MKR holders will have the option to convert it back into MKR whenever necessary.

The integration of NST and NGT into the MakerDAO network is an expansion of the entire ecosystem, not a removal of existing tokens. Consumers can still use Dai and MKR in addition to the new tokens.

"Dai holders can easily upgrade to NewStable, enjoying the flexibility to return to Dai as desired," Maker said.

Through this step, it is clear that MakerDAO is focused on sustainable development through the introduction of new products.

Tentang MakerDAO

MakerDAO is a decentralized blockchain protocol that allows its users to borrow and lend cryptocurrencies. Launched in 2015, this platform operates on Ethereum. 

Interestingly, this blockchain protocol functions as a lending and borrowing service and a decentralized autonomous organization (DAO) at the same time.

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As a decentralized finance (DeFi) platform, MakerDAO is backed by two crypto assets: Dai (DAI) stablecoin and MKR token. MakerDAO allows users to take out crypto loans using other cryptocurrencies as collateral. 

These loans are liquidated in their native stablecoin, DAI, which is generally over-secured.

Dear Beli Crypto from Bittime

You can buy and sell Maker (MKR) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Maker (MKR) is available on Bittime with the market pair MKR/IDR. To be able to buy MKR IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Maker (MKR) on Bittime. 

Monitor price chart movements of Maker (MKR), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.