MakerDAO is set to Create Two New Tokens

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MakerDAO is set to unveil two new tokens, NewStable ($NST) and NewGovToken ($NGT), with their names to be revealed soon. NewStable is an upgraded version of the DAI stablecoin with additional features, while NewGovToken is a governance token designed to encourage community engagement and agile decision-making. Each Maker token (MKR) can be converted into 24,000 NGT for NST holders participating in farming activities. The final name will be shared through the brand reveal.

As the launch season approaches, MakerDAO is preparing to introduce two new tokens – NewStable and NewGovToken.

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— Maker (@MakerDAO) May 3, 2024

The conversion process for token holders is straightforward: Dai holders can upgrade to NewStable, while Maker token holders can convert each MKR into 24,000 NGT for NGT holders. These additions represent an expansion and will not replace the existing Dai (DAI) and Maker (MKR) tokens. Users will have the option to transition to NewStable and NewGovToken. The new tokens will not replace the existing tokens.

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