Constitution Edit Proposals
Rune’s newest set of MIP edits clocks in around 107 pages. It covers a wide variety of changes. For a short list
MKR holders will be able to borrow against MKR.
MakerDAO will be investing significantly into LLM AIs.
The ALM Framework has been somewhat fleshed out.
Delegates and various key participants will be required to be anonymous.
MakerDAO will be engaging a major PR firm to do a full rebrand.
Many of the name changes discussed last week go into effect.
The newsletter will go into the changes in more detail over the coming weeks, but let's start first with two of the biggest changes.
New tokens and a new chain
Rune has expressed a desire to launch new tokens for MakerDAO. This would allow for feature upgrades and could tie in with rebranding the protocol as the tokens can have new names. We have gotten some information in the latest round of updates from Rune on the design of the new governance token and stablecoin.
DAI and MKR will be upgradable to new coins(currently called Newstable and NewGovToken). 1 MKR will be worth 1200 NewGovTokens. NewGovToken will be able to farm SubDAO token rewards, but must be locked up with a 15% exit fee in order to stake. DAI will also be able to farm subDAO tokens. 100 million NewGovTokens(approximately 83K MKR) will be emitted each year to power the Maker Ecosystem, with 90% earmarked to projects that drive new users or income to the protocol.
MakerDAO will also be developing its own blockchain, with native ZKRollup support. Gas fees will be paid in the new stablecoin and NewGovToken will be used as the staking token for chain validators. This chain will have a 10M DAI bootstrapping budget.
Overall, this is a very ambitious project. There isn’t a roadmap yet, but smart contract blockchains have traditionally taken years to roll out. Meanwhile, Protocol Engineering has been offboarded so it is not yet clear who will lead the development work for this new chain.
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