According to PANews, MakerDAO announced on the X platform the introduction of upgraded versions of its DAI and MKR tokens, named NewStable and NewGovToken. Despite these upgrades, the original DAI and MKR tokens will remain available for the foreseeable future unless decided otherwise by the governance department. Users can continue to hold and use these tokens as before.
DAI will remain available indefinitely, and users have the option to upgrade to NewStable, with the ability to revert to DAI at any time. The conversion rate is set at 1 DAI to 1 NewStable (NST). The ecosystem will eventually explore ways to differentiate between DAI and NewStable, with DAI focusing on crypto-native use cases and NewStable targeting mass adoption. MKR will still be used for voting on governance proposals, but eventually, NewGovToken (NGT) will take over this role. During the upgrade period, the conversion rate is 1 MKR to 24,000 NewGovToken (NGT). The renaming of NewGovToken aims to encourage broader governance participation, allowing more users to hold significant amounts of NewGovToken and actively influence the ecosystem's future. Upgrading to NewStable and NewGovToken is optional.
