MakerDAO on brink of ‘endgame’ launch of NewBridge

IconCryptoNewsTerminal Staff25 Jul, 2024

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MakerDAO on brink of ‘endgame’ launch of NewBridge

MakerDAO (MKR) co-founder Rune Christensen announced the upcoming launch of NewBridge, the "endgame" plan to deploy the MakerDAO ecosystem across various layer-2s and multiple chains. This move aims to onboard more users by offering lower gas fees and an enhanced user experience, as part of MakerDAO's strategy to mainstream DeFi. NewBridge will introduce a new governance token (NGT), as well as SPK, the token for MakerDAO's Spark subDAO. Holders of the new stable token (NST) will receive 600 million NGT, while NGT holders can claim SPK with a 5% withdrawal fee. SPK holders can also claim NGT in return.

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