MakerDAO may get a new governance token and greater incentives if a proposal by a lead community member gets the go-ahead.
The proposed solution is a new stkMKR token which would replace MKR as the core governance token of MakerDAO. It would act as a staking or bonding token issued to those who have deposited MKR for governance purposes.
“stkMKR will be non-transferable, and represents MKR staked in governance. Staked tokenholders will receive a share of MKR tokens purchased through surplus auctions, so stkMKR will be backed by an increasing amount of MKR over time.”‘Monet-supply’ said the rewards mechanism has been improved upon, and there will be greater incentives to stake using the new system.
MakerDAO allows users to deposit crypto assets as collateral to generate the decentralized stablecoin DAI. This can then be used elsewhere, such as other DeFi protocols or liquidity pools. The DAI is burnt when the “loan” is repaid, and the collateral is withdrawn.MKR prices were trading flat on the day at $1,766 at the time of writing, according to CoinGecko. However, the token has dropped 11% over the past fortnight and is currently down 72% from its May 2021 all-time high of $6,292.
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