MakerDAO, the decentralized autonomous organization behind the popular DAI stablecoin and MKR governance token, has recently announced the launch of upgraded versions of these tokens. The new tokens, called NewStable (NST) and NewGovToken (NGT), respectively, are designed to offer users more flexibility and options when it comes to using these tokens.
One of the key features of the new tokens is that they are optional upgrades, meaning that users can choose to stick with the original DAI and MKR tokens if they prefer. However, MakerDAO has stated that the new tokens will not make the original tokens obsolete, and users will still be able to use them as they always have.
For those who do choose to upgrade, MakerDAO has made the process simple and straightforward. Users will be able to swap their DAI tokens for the new NST tokens on a 1:1 basis, and they will also be able to revert their holdings back to DAI at any time. This means that users can experiment with the new tokens without having to worry about losing their original holdings.
So, what are the benefits of upgrading to the new tokens? According to MakerDAO, the DAI stablecoin will continue to focus on crypto-native use cases, such as trading and lending, while the new NST token is designed to be more accessible to the masses. This means that the new token will be more user-friendly and easier to understand for those who are new to the world of cryptocurrency.
In addition to being more user-friendly, the new NST token will also offer some new features and benefits. For example, it will be more stable than the original DAI token, thanks to some improvements in the underlying smart contract technology. This means that users can have more confidence in the value of their holdings, even during times of market volatility.
Overall, the launch of the new NST and NGT tokens is an exciting development for MakerDAO and its users. By offering more options and flexibility, MakerDAO is helping to make the world of cryptocurrency more accessible and user-friendly for everyone. Whether you choose to stick with the original tokens or upgrade to the new ones, there’s no doubt that MakerDAO is leading the way when it comes to innovation in the world of decentralized finance.
