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Rune Christensen, the founding father of MakerDAO, has unveiled two new stablecoins, NewStable and PureDAI, as a part of the protocol’s controversial Endgame plan.
The brand new tokens are meant to finally exchange DAI, which presently instructions a $5.4 billion market cap, inserting it third general within the stablecoin sector.
Christensen’s aim is to reconcile the 2 opposing paths for decentralized stablecoins: one prioritizing utility and scale by selecting a greenback peg backed by real-world property (RWA) as collateral, and the opposite demanding full independence from any kind of centralized management.
He argues that reaching each is now doable with the introduction of NewStable and PureDAI.
“From the second Dai began scaling, it has been straddling two worlds,” Christensen mentioned in a submit to MakerDAO’s boards.
NewStable would be the essential successor to DAI, centered on progress, yield, and resilience. It is going to take over the RWA side of MakerDAO whereas remaining connected to Maker, and introduce a novel freeze operate much like different RWA-backed stablecoins. Customers can decide to improve their DAI to NewStable, though DAI will proceed to function as is.
“One world is the tradition of pure decentralization as launched with Bitcoin. The opposite is the need to satisfy the unique objective of DAI by delivering utility and worth to actual folks at scale,” Christensen explains, offering a distinction between the Endgame plan and the core values of the alpha crypto.
PureDAI, then again, is positioned as a “return” to the undertaking’s “ideological roots” supported by early group members and cypherpunk idealists. It is going to characteristic a free-floating goal which “solely very decentralized” individuals can use as collateral by means of ETH and staked ETH (stETH). The brand new stablecoins can even permit customers to leverage maximally decentralized oracles, minimal governance, and easy tokenomics that may promote stablecoin supply-side progress.
Christensen claims that there might be an preliminary “genesis provide” of two billion PureDAI governance tokens which might be distributed in batches of 400 million over 5 years, with a burn mechanism set in place.
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