MakerDAO Founder Unveils New Governance Token ‘NGT’ for Long-Term Community Involvement

MakerDAO Founder Unveils New Governance Token ‘NGT’ for Long-Term Community Involvement

MakerDAO Co-Founder Introduces New Governance Token Rune Christensen, co-founder of MakerDAO (MKR), recently announced via Twitter the upcoming launch of a new governance token, NewGovToken (NGT), on the X network. This token aims to encourage long-term participation in governance by the MakerDAO community. Purpose and Benefits of NGT The NGT token serves two primary purposes: Governance Participation: Incentivizes active engagement in MakerDAO's governance process. Reward Earning: Once Spark, MakerDAO's proposed endgame plan, is implemented, NGT holders can activate their tokens to earn SPK rewards. A total of 15% of the SPK token supply is allocated to token activators. Additionally, NGT holders can choose rewards in the form of 10% of the total protocol stablecoin surplus or tokens from future subDAOs (with a total supply of 15%). Activation and Restrictions The governance proposal for activating NGT is scheduled for a vote in August. It's important to note that users in the United States or those using a VPN may not be able to activate NGT. Future Enhancements Christensen emphasized that these features are subject to change based on user feedback. Future plans include adding delegation functionality to the NGT token. This announcement marks a significant step in MakerDAO's ongoing efforts to foster community involvement and participation in its governance process. The NGT token provides an incentive for long-term engagement and opens up new opportunities for rewards within the MakerDAO ecosystem. ```