Bitcoin once again sets its sights on the $72,000 mark as a leading altcoin, MKR Coin, experiences an uptick following a significant announcement. Despite recent dips in Bitcoin’s value, MKR Coin has seen an 8% rise, bouncing back from a low of $2,449, indicating the likelihood of reaching new heights within the year.
Surge in MKR Coin Linked to MakerDAO’s Strategic Plan
The surge in MKR Coin’s value is attributed to the announcement by MakerDAO’s founder, Rune Christensen, regarding the commencement of the Endgame Launch’s first phase slated for this summer. The Endgame initiative seeks to bolster MakerDAO’s growth by pushing the Dai supply beyond 100 billion. Its main attraction is creating an enjoyable saving experience via sustainable yield farming with SubDAO tokens.
Endgame’s Impact on the DAO Ecosystem
Endgame, a strategy proposed two years prior and greenlit by a governance vote in August 2022, has been pivotal in redefining the structure of all DAOs. With this transformative strategy, SubDAOs operate as high-yield, flexible, and autonomous entities integrated within MakerDAO’s infrastructure, offering various options for Dai users interested in yield farming.
First Phase Initiatives and Subsequent Token Releases
The first phase of the launch will rapidly introduce core features, aiming for a seamless cycle that stimulates Dai’s exponential growth through AltDAOs, tokenomics, branding, and user acquisition channels. Following about a month after this phase, two new tokens will be introduced, with their names set to be revealed during the first phase.
Future of Dai and MKR Coin Post-Launch
Despite the introduction of new tokens, Dai and MKR Coin will persist. However, token upgrades are necessary for users to access the entire suite of new features. A significant change is the split of MKR Coin, with the new governance token being 24,000 times greater in supply. Investors converting their MKR will receive a corresponding number of the new governance tokens. These developments have led to a rise in MKR Coin’s price to $2,950, with prospects of surpassing the $3,000 mark and potentially higher valuations post-restructuring.