According to TechFlow, MakerDAO, a veteran protocol in the DeFi field, is launching its new stablecoins NewStable and PureDai. MakerDAO is a CDP protocol that issues $DAI, and users can mint $DAI at a collateral rate of 150% by depositing $BTC, $ETH, or crypto assets on the whitelist. $DAI is the third largest stablecoin by market value, and Maker accounts for about 40% of DeFi profits on Ethereum.
MakerDAO’s Endgame plan was approved in October 2022, laying the foundation for MakerDAO’s governance and upcoming developments. One of the key upgrades is the renaming of $DAI and $MKR tokens: $DAI will become NewStable and PureDai, and $MKR will become NewGovToken.
NewStable is expected to be launched by the end of 2024, focusing on compliant RWA support, aiming to integrate with traditional financial institutions and attract institutional liquidity into Web3. PureDai is expected to be launched in 2025/2026, focusing on full decentralization and using purely decentralized collateral. NewGovToken will become MakerDAO's new governance token, and $MKR holders can upgrade to NewGovToken at a ratio of 1:24,000.