MakerDAO Introduces New Governance Token and Stablecoin

MakerDAO, a leading crypto lending platform, has announced the launch of a new governance token, NewGovToken (NGT), and a new stablecoin, NewStable (NST). MKR holders will have the option to convert their tokens to NGT at a rate of 1 MKR to 24,000 NGT. This initiative aims to enhance governance participation by enabling users to hold a larger amount of NGT tokens. Additionally, NST will be pegged 1:1 to DAI. Both DAI and MKR will remain available, and conversion to NGT is entirely optional.

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