Maker\u2019s co-founder proposes roadmap for Endgame rollout.<\/p>\n
MakerDAO is gearing up to accelerate the adoption of its Endgame overhaul.<\/p>\n
On March 12, Rune Christensen, the co-founder of MakerDAO,\u00a0published<\/a>\u00a0a rough timeline for the phases of Endgame\u2019s adoption. The document says MakerDAO will commence rolling out a new brand, stablecoin, governance token, website and app, and yield farming products in quick succession beginning in Summer 2024.<\/p>\n Spark, MakerDAO\u2019s DAI-focused Aave fork, will also introduce new products alongside a governance token and DAO as part of Endgame.<\/p>\n \u201cIn Phase 1 of Endgame Launch all of the major features of Endgame are released in rapid succession,\u201d Christensen wrote. \u201cThe goal is to quickly get a fully featured virtuous cycle where SubDAOs, tokenomics, the new brand, and new user acquisition funnels all work together to produce exponential growth of Dai usage.\u201d<\/p>\n <\/p>\n Endgame was first\u00a0proposed<\/a>\u00a0by Christensen in June 2022. The plan was approved by governance just a few months later, however, the vote\u00a0drew criticism<\/a>\u00a0for tokens delegated by Christensen representing an outsized share of the assets mobilized for voting.<\/p>\n Endgame sought to expand the protocol\u2019s utility and address many of the challenges encountered following MakerDAO\u2019s venture into decentralization following the dissolution of the MakerDAO Foundation. At the time, MakerDAO wasn\u2019t operating at a profit and was struggling to reconcile its increasing complexity with voter apathy and internal factionalism.<\/p>\n In order to rectify these problems, Endgame proposed reorganizing MakerDAO into a series of subDAOs with their own token farming and governance structures, in addition to revamping its DAI stablecoin and MKR governance token.<\/p>\n The price of MKR is up 9% in 24 hours in response to Christensen’s post. MakerDAO is the fourth-largest DeFi protocol with a total value locked of $9.7 billion, according to CoinGecko.<\/p>\n Endgame will begin with the month-long rollout of a new brand for the MakerDAO protocol starting with the launch of a promotional website. Christensen said updating the brand is intended to better communicate Maker\u2019s core values and products.<\/p>\n Maker\u2019s\u00a0new governance token and stablecoin<\/a>\u00a0will then launch, with users able to convert their existing MKR and DAI into the tokens to access Maker\u2019s forthcoming new features. The new tokens can also be converted back to MKR and DAI.<\/p>\n <\/p>\n Start for free<\/a><\/div>\n <\/p>\n Christensen DAI and the new stablecoin will target different utilities, with \u201cDAI focusing on crypto-native use-cases and NewStable focusing on mass adoption.\u201d The new stablecoin can also be used to farm the new governance token, excluding U.S.-based and VPN users. The new governance token will also redominate MKR at a rate of one-to-24,000.<\/p>\n Maker will follow up with the launch of a new website and app intended to bolster the user-friendliness of the protocol, simplifying users\u2019 ability to access the\u00a0DAI Savings Rate<\/a>\u00a0(DSR) and token farming features.<\/p>\n Maker will then introduce its Lockstate Engine (LSE), a new feature designed to incentivize long-term governance token lock-ups by distributing \u201c30% of all protocol surplus income earned by the Maker Protocol\u201d to LSE depositors who chose to receive stablecoins yield.<\/p>\n LSE depositors can also choose to receive a share of 30% of SPK, the forthcoming native token of Spark, earmarked for yield farming by opting to receive SPK yields.<\/p>\n However, LSE depositors will incur a 15% exit fee when unlocking their tokens, with the protocol burning all exit fees received.<\/p>\n MakerDAO will also launch on a leading Layer 2 network alongside the deployment of a bridge between the L2 and Ethereum during Phase 1.<\/p>\n The Endgame roadmap\u2019s first phase will also bring major updates to Spark, MakerDAO\u2019s money market lending protocol, starting with the launch of MakerDAO\u2019s first subDAO in the form of SparkDAO. SparkLend has emerged as the ninth-largest DeFi protocol with a total value locked of $3.9 billion since launching in May 2023, according to DeFi Llama.<\/p>\n Phase 1 of Endgame will include the launch of various farms allowing the farming of its upcoming SPK token. Current Spark users will also qualify for the future SPK airdrop. The rate of SPK tokens distributed through farming will halve every two years from 1 billion initially, with 4 billion tokens earmarked for issuance over 10 years.<\/p>\n Spark will also introduce support for\u00a0real-world assets<\/a>\u00a0(RWAs) leveraging MakerDAO\u2019s existing RWA infrastructure. \u201cHaving access to RWA and the yield available in traditional finance complements the on-chain lending business model well, as it allows Spark to shift its exposure to whichever environment has the best risk-adjusted return,\u201d Christensen said.<\/p>\nEndgame Phase 1<\/h2>\n
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Lockstate Engine<\/h2>\n
Spark Upgrades<\/h2>\n