DeFi
MakerDAO is making strides towards Endgame, an in depth plan designed by its founder Rune Christensen with the hopes of enhancing governance.
Being one of many largest DeFi protocols, MakerDAO has been pressured to navigate the sophisticated world of scaling and inside politics — that are confronted by many startups which can be transitioning into their progress part — all while attempting to stay decentralized.
In response to the most recent discussion board publish by Christensen, Endgame’s short-term aim is to make sure that MakerDAO’s secure token, DAI, turns into one of the crucial extensively used stablecoins throughout the subsequent three years with out sacrificing governance equilibrium.
He proposes that to attain this, Maker DAO should launch following Endgame’s complete five-phase roadmap.
Section 1: Beta launch
The primary part of Endgame might be establishing a brand new unified model with its personal stablecoin and governance token separate from DAI and MKR, Christensen mentioned.
“Maker and Dai are established and trusted manufacturers within the cryptocurrency area. Sadly they’ve drawbacks, together with having two separate manufacturers slightly than a single cohesive idea,” he mentioned.
The Accessibility Governance Course of is presently engaged on redesigning MakerDAO with the final word aim of resolving fragmentation by creating a brand new, unified model.
DAI and MKR token holders can have the selection to stay holding the tokens or improve to the brand new stablecoin and governance token, Christensen famous.
Section 2: SubDAO launch
Following the Beta Launch would be the creation of six Maker SubDAOs, every one with its personal governance tokens.
SubDAOs are designed to operate independently from Maker, however are tied to the protocol by its mission.
“By delegating each day complexity to SubDAOs, MakerDAO considerably streamlines the workload and complexity that Maker Governance must handle,” Christensen wrote.
Section 2: SubDAO Launch follows some months afterwards with 6 new SubDAOs and 6 SubDAO token farms accessible for NewStable customers.
All preliminary SubDAO tokens might be distributed by these farms solely. NewStable customers can freely select which to farm. USA & VPN IPs are ineligible.
— Rune (@RuneKek) Might 11, 2023
Section 3: Governance AI instruments launch
Designing instruments utilizing AI for governance would be the third part of MakerDAO’s Endgame.
The aim of those instruments might be to enhance “Alignment Artifacts” which can information the governance expertise and enhance processes over time while not having a centralized management.
These instruments might be designed to be open supply, Christensen famous.
“This each helps MakerDAO enhance its personal Governance AI Instruments whereas additionally delivering on it’s public good goal,” he wrote.
Section 4: Governance participation incentive launch
The launch of the Sagittarius Lockstake Engine (SLE) would be the fourth part of the Endgame plan.
This engine is designed to make sure the token holders of the brand new governance token might be actively incentivized to take part in governance.
Tokens are designed to be delegated to aligned voter committees and might be executed by “a user-friendly, gamified frontend for straightforward entry,” Christensen mentioned.
Section 5: NewChain launch and ultimate Endgame state
Launching a rebranded new chain would be the ultimate stage of the Endgame State.
On this state, it will likely be tough for main adjustments to happen on this state, Christensen notes. Which means MakerDAO’s core processes might be balanced, decentralized and sustainable “perpetually.”
This new chain is designed to be the hub of all backend instruments working MakerDAO.
“Which means on Ethereum, NewStable and NewGovToken, in addition to Dai and MKR, will proceed to operate as regular, and the one change might be that they are going to be protected by a governance backend that operates by a safe, state-of-the-art bridge,” Christensen wrote.
A brand new characteristic that Christensen is especially enthusiastic about is the power for the chain to exhausting fork within the case of “catastrophic governance disputes.”
“This supplies a ultimate stage of governance safety to customers, companies and protocols that depend on the Dai Stablecoin and NewStable, which ensures even probably the most excessive governance assault situations will solely have a minimal influence on their consumer expertise and won’t put their funds or their stability in danger,” he mentioned.
