Big Moves by MakerDAO: Governance Polls and Staking

• MakerDAO polls were approved, initiating LITE-PSM-USDC-A Phase 1 and the Morpho market for Pendle PT tokens.
• Karak Network announces native staking for MKR tokens and a focus on NewGovToken.

In a tweet, MakerDAO announced that the latest governance polls had been approved by Maker Governance. The two polls to launch the LITE-PSM-USDC-A Phase 1 and activate a Morpho market for Pendle PT tokens, promoted by the Phoenix Labs and Block Analitica teams, were successful and will be included in a future Executive Vote.

The latest governance polls have been approved by Maker Governance.

Promoted by @phoenixlabsdev and @blockanalitica teams, the two polls to initiate the LITE-PSM-USDC-A Phase 1 and activate a Morpho market for Pendle PT tokens have passed and will be included in a future… https://t.co/yrtd5swNtq

— Maker (@MakerDAO) July 23, 2024

The Polls Lead to Potential Major Enhancements for MakerDAO 

The polls were initially introduced on July 17. If the Executive Vote is approved, the following actions will be carried out: Initiate the LITE-PSM-USDC-A Phase 1 with the adjustments described in the poll specifics and activate a Morpho market for Pendle PT sUSDe with an October 25, 2024 maturity, as recommended in the poll results.

This represents a big step forward for MakerDAO’s ecosystem, since these steps are intended to improve platform functionality and provide more robust financial tools to its users.

Phoenix Labs previously proposed integrating a PT sUSDe market to address the need for fixed-rate products based on Ethena tokens. This integration is viewed as a deliberate step to meet the increased demand for fixed-rate products, which offer stability and predictability to investors seeking less volatile investment options.

Karak Network Introduces Native Staking 

On another note, Karak Network announced that they are excited to add native staking capability to the MakerDAO token (MKR), with a long-term focus on NewGovToken. This announcement is expected to encourage more users to take part in the staking process, potentially increasing the value and utility of MKR tokens.

Accelerating Endgame

We’re excited to bring native staking functionality for @MakerDAO MKR and a longterm focus on NewGovToken

Users can restake MKR to earn 1x Karak XP

Scalable resilience, Sustainable user growth, Supercharged by Karak

Restake now: https://t.co/FIOLizMQMM pic.twitter.com/BgdToeIMMK

— Karak (@Karak_Network) July 23, 2024

Furthermore, CNF noted that Spark of MakerDAO has announced the tokenization of a $1 billion Grand Prix to improve real-world asset registration.

This initiative is available to all innovators and issuers, and it aims to bridge the gap between traditional assets and blockchain technology, broadening the reach and application of MakerDAO’s services.

As we previously reported, MakerDAO founder Rune Christensen has indicated that Endgame, a new plan for governance, decentralization, and stability, will be launched this summer.

The introduction of Endgame is intended to bring about dramatic changes in MakerDAO, significantly decentralizing its governance structure and providing greater platform stability.

Meanwhile, the price of MakerDAO’s native token, MKR, is currently around $2,769.56, up 2.82% over the last 24 hours.