Crypto lending platform MakerDAO, the protocol behind the DAI stablecoin, will allow MKR holders to convert their tokens to newly-issued NewGovToken (NGT) tokens.
Holders will be able to convert one MKR token for 24,000 NGT tokens, which MakerDAO hopes will improve governance participation as users will hold a more significant amount of NGT tokens.
Both tokens are expected to stay unchanged for the foreseeable future, unless governance decides otherwise.
The tokens are a part of MakerDAO's 'endgame' plan, which is a proposed expansion of the Maker ecosystem including the launch of new stablecoins and new ways to generate revenue.
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