What Happened on May. 12th | MakerDAO Propose a Major Rebrand
Substantial changes are proposed. Firstly, the two token $MKR and $DAI will be rebranded and upgraded with new names. $MKR will be migrated to a new governance token at 1:1200 ratio. There will also be yield farming for the new governance token as well as 6 new subDAO tokens.
6 subDAO will be created to reduce governance complexity and increase efficiency. These subDAO will have their own tokens, and these tokens can be earned through yield farming.
Maker will introduce AI-based governance tools to allow users to summarize, verify, and generate governance proposals with the help of AI.
In governance, governance token holders will be incentivized to participate in governance in the form of stablecoin or subDAO tokens. Governance participation will be gamified for accessibility and creates earning opportunities.
The final stage of Maker's plan is to launch a new chain, the chain will house all backend logic for subDAO tokenomics and MakerDAO governance security. The governance token and stablecoin will still operate on Ethereum, but governance backend will be moved to the new chain.
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