MakerDao's new version of the V3 protocol has been developed for more than a year. The main work of V3 is briefly summarized:
1. Adoption of subDAO: Similar to Spark Protocol, it will release its own token SDT, with a total amount of 230 million.
2. Split of MKR: MKR will be split into NGT at a ratio of 1:1200.
3. subDAO liquidity mining: Tokens issued by subDAO are distributed through mining and distributed to MKR, DAI and ETH in proportion.
4. MKR’s lock-up engine Sagittarious Engine (SE): In order to encourage large-scale DAO governance, a lock-up pool for voting and governance is launched, and private liquidity mining of subDAO tokens is opened to SE. If you want to withdraw the locked MKR, you need to bear a 15% loss.
5. MKR empowerment: including smart repurchase of treasury surplus based on MKR/DAI, and SDT/MKR project surplus repurchase of subDAO tokens. There is also the SE mining mentioned above, as well as the liquidity mining of tokens.
