MakerDAO Announces Introduction of New Tokens - NewStable and NewGovToken

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI


MakerDAO revealed that it will introduce two new tokens named NewStable and NewGovToken into its system. These tokens were announced in March to encourage broader participation in governance activities.

MakerDAO and Announcement of New Tokens

MakerDAO is a global financial system known for creating the first unbiased currency, DAI. DAI is a leading stablecoin that is overcollateralized, and the ecosystem has decentralized governance, increasing its value. Despite controversies surrounding algorithmic stablecoins, DAI has maintained a clear path.

The DAI stablecoin is backed by cryptocurrencies and stablecoins like USDC. Launched in 2017 on the Ethereum blockchain, DAI is pegged to the US dollar. Users can take out loans in DAI by collateralizing with other cryptocurrencies.

MakerDAO has taken a significant step by announcing the launch of two new tokens to enhance its governance model. These tokens, NewStable and NewGOV, will be introduced after the brand reveal event.

NewStable and NewGOV

NewStable is an improved version of DAI designed for wider adoption and greater stability. The official name of NewStable will be disclosed at the upcoming brand reveal event. On the other hand, NewGOV is focused on enhancing governance within the ecosystem to encourage more user participation in decision-making processes.

Users can easily convert their existing tokens to NewStable from DAI and revert back if needed. For NewGOV, 1 MKR can be converted to 24,000 NGT. This redenomination aims to boost user engagement in governance activities.

The two new tokens will not replace DAI and MKR but will serve as an expansion. Users will have the option to transition to the new tokens.

Holders of NST can partake in farming NGT, with 600 million NGT available annually to participating NST holders. Farming is not accessible to US users or those using VPN services. The strategic supply of NewGOV tokens has been redenominated compared to MKR.

What's Next?

Participants in token farming or conversion will gain access to various benefits, including new features and opportunities. Transitioning to the new tokens will provide users with access to the latest functions within the ecosystem.

The introduction of new tokens offers users flexibility and choice, allowing them to select from available options. These tokens serve as a gateway to future products and services, providing access to a growing ecosystem. Stay connected with the Maker Ecosystem for updates.

Conclusion

MakerDAO's announcement of the NewStable and NewGOV tokens aims to simplify and enhance user experiences within the system. Expect more details at the upcoming brand reveal event.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

SEC Updates Cryptoassets FAQ with New Governance Questions

On November 2, 2026, the SEC Division of Corporation Finance added new questions to its cryptoassets FAQ, addressing governance through foundations and organizations, control over participation, and the distinction between functional and decentralized networks.

user avatarDiego Alvarez

Chainalysis Reports Security Incident Affecting Customer Data

Chainalysis reported a security incident on October 30 that impacted a subset of customer-related information, including names and email addresses.

user avatarKenji Takahashi

Hong Kong Launches Postquantum Cryptography Toolkit

On November 2, the Hong Kong Monetary Authority and the Hong Kong University of Science and Technology launched a postquantum cryptography assessment toolkit to help banks identify necessary upgrades to their cryptographic systems as quantum computing evolves.

user avatarMaria Fernandez

NYSE Partners with Major Firms for Tokenized Securities Initiative

On November 2, the New York Stock Exchange announced partnerships with Broadridge, Computershare, Equiniti, and Superstate to support a proposed tokenized securities venue aimed at enhancing infrastructure and improving market operations.

user avatarGustavo Mendoza

BTCPay Servers 247 Release Addresses Security Vulnerabilities

The latest release of BTCPay Servers, version 247, includes critical security fixes to enhance security for businesses operating their own Bitcoin payment servers.

user avatarRajesh Kumar

Aave Freezes tBTC Supply and Borrowing Amid Threshold's Pause

Aave contributors announced a freeze on additional tBTC supply and borrowing in its Ethereum Core market following Threshold's temporary pause of the token's mint and redeem functions.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.