MakerDAO recently announced the launch of Phase 1 of its highly anticipated ‘Endgame’ project, scheduled for the summer of 2024. This phase will see the release of the project’s major features, aimed at driving growth and establishing a fully functional virtuous cycle. The key components of Phase 1 include the introduction of new tokens, a new brand, and innovative user acquisition strategies.
Founder Rune Christensen highlighted the importance of these features in improving growth, resilience, and accessibility within the MakerDAO ecosystem. The new brand will be unveiled first, followed by the introduction of two new tokens – NewStable and NewGovToken. While Dai and MKR tokens will still be available, users will have the option to switch to the new tokens to access the upcoming suite of new features.
In addition to the new tokens, Phase 1 will also bring forth additional functionalities such as the Lockstake Engine and a cost-effective bridge for linking Maker ecosystem tokens to a Layer-2 network. The Lockstake Engine will allow users to secure their tokens for extended periods, enhancing their risk/reward potential. The bridge will facilitate the movement of tokens between Ethereum and a Layer-2 network, enabling economic layer-2 yield farming.
The introduction of SparkDAO, the first SubDAO focused on lending, will mark the conclusion of Phase 1. Phase 2 will commence once the launches of Phase 1 are successfully completed, with a focus on scaling the project. The Lockstake Engine, NewBridge, and Spark SubDAO must be operational before Phase 2 can begin.
Phase 3 of the ‘Endgame’ project will involve the technical iteration of establishing NewChain, a standalone L1 blockchain that will host the core tokenomics and governance mechanisms of Maker Core and the SubDAOs. NewChain is expected to support Real-World Assets (RWA), DeFi activities, and inter-blockchain bridging through the NewBridge system. This phase will set the stage for further growth and development within the MakerDAO ecosystem.
Phase 4 will see the activation of the Final Endgame, where all foundational governance mechanisms of Maker Core become immutable. This final phase represents the culmination of the ‘Endgame’ project’s ultimate vision, solidifying MakerDAO’s position within the DeFi space.
Overall, the launch of Phase 1 and the subsequent phases of the ‘Endgame’ project signal an exciting period of growth and innovation for MakerDAO. With a focus on scalability, accessibility, and governance, MakerDAO is poised to make a significant impact within the DeFi ecosystem in the years to come.