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MakerDAO has announced a significant update to its token structure, introducing a revamped stablecoin and governance tokens as part of its transformation strategy. The decentralized finance platform will allow holders of the governance token, MKR, to convert their existing tokens into a new governance token called NewGovToken (NGT) at a conversion rate of 1 MKR to 24,000 NGT. Additionally, MakerDAO will also allow users to convert its existing stablecoin, DAI, into a new stablecoin called NewStable (NST) at a 1:1 ratio. These changes are in line with MakerDAO's Endgame roadmap, aimed at enhancing its decentralized finance offerings.
DeFi platform @MakerDAO has introduced updated versions of the $DAI stablecoin and the $MKR governance token as part of its transformation according to the Endgame roadmap. Users will have the ability to freely convert DAI into NewStable (NST) and back at a 1:1 ratio. Both… https://t.co/tLLLEtSoC5
[COINDESK] MakerDAO to Offer Optional $MKR Conversions for New Governance Token
EVERYTHING WE KNOW ABOUT MAKERDAO’S NEW TOKEN CONVERSION - @MakerDAO, which famously mints the decentralized $DAI stablecoin, has announced an optional conversion mechanism to convert its two tokens ( $DAI and $MKR) into new assets altogether. - The conversion rate is as… https://t.co/gBpIml0DEy https://t.co/xUJQbD7tRR
