MakerDAO announced a new governance model on May 11 that will include artificial intelligence (AI) and crypto tokens with a new brand.
Founder seeks “governance equilibrium”
AI tools, according to MakerDAO founder Rune Christensen’s forum post, will create a “governance equilibrium” that will direct development.
Many of the planned features will be tied to new tokens that will bring the Maker governance token (MKR) and the Dai stablecoin (DAI) together under a new brand.
The new tokens will be released in the first phase of the plan over the next few months, with users having the option to upgrade their old tokens.
Maker will then launch six SubDAOs in the following stage. These will be in charge of certain tasks delegated by MakerDAO and will be able to use AI.
Users will also be able to farm tokens from SubDAOs, though this will not be available to users in the United States.
MakerDAO will then introduce new governance tools that will allow users to use AI to summarize, verify, and generate governance proposals. These features will be restricted to those who own Maker’s new tokens.
MakerDAO will launch governance participation incentives and a new blockchain that will make DAO’s core features immutable in the final two stages.
MakerDAO aspires to be the number one stablecoin
MakerDAO aims to become the “largest and most widely used stablecoin project” in three years, according to Christensen. Given the dominance of centralized stablecoins such as USDT, USDC, and BUSD, that goal is ambitious.
With a market cap of $82 billion and a 24-hour volume of $20 billion, Tether’s USDT stablecoin is the most dominant of those stablecoins.
DAI is still one of the top five stablecoins by both measures, with a market cap of $4.6 billion and a 24-hour volume of $165 million. As a result, even if it does not overtake its competitors, it will likely remain significant.
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