GM Digest #271 — Maker Endgame
Gm with Valuable Alphas / Insights — Make Sure to DYOR. All of This is Not Financial Advice. Ape at Your Own Peril
Maker Endgame
• @MakerDAO is entering its Endgame phase with several key developments on the horizon
• New Brand Identity: A fresh brand identity with the aim to make saving with stablecoins easy and engaging
• New SubDAOs: Autonomous entities within MakerDAO's ecosystem will cater to various interests
• New Tokens: NewStable and NewGovToken will be launched, aiming for mass adoption and enhanced governance
• AI Tools: Advanced AI tools will simplify governance processes and enhance user interaction
• Governance Rewards: Long-term governance participants will be rewarded through the Lockstake Engine and NewStable rewards
• New Blockchain: Phase 3 introduces NewChain, a dedicated L1 blockchain supporting core tokenomics and governance
• NewBridge Launch: NewBridge will connect Maker ecosystem tokens to a major L2 network
NetMind Tokenomics
• @NetmindAi Chain celebrates its first anniversary with a tokenomics upgrade
• Redistribution Plan: 113,000,000 $NMT to be issued over 10 years, with a reorganized Community Fund
• Token Supply and Burn: Total maximum supply set at 147,571,163 $NMT after burning approximately 9.85 billion tokens, reducing the supply by 98.5%
• Halving and Decreasing Mechanisms: Mining rewards halve every four years, with a smooth reduction in other categories to maintain economic stability
• Staking Rewards Structure: Rewards drawn from staking pool with options for flexible, fixed-term, and master node staking, with 10% allocated to top 21 Master Node operators and the rest to stakers or liquidity providers. Further details to be announced by Apr 30
Drift Token Reveal
• @DriftFDN introduces the $DRIFT governance token. The token allows users and contributors to impact the protocol's direction
• The Drift DAO, facilitated by the Foundation, allows token holders to vote on key decisions. It consists of Realms DAO for protocol development, Security Council for risk parameters, and Futarchy DAO for funding projects
• Realms DAO elects Security Council members, while Security Council updates risk parameters and approves changes. Futarchy DAO funds ecosystem projects based on a futarchy model
• The $DRIFT token will have a total supply of 1 billion tokens distributed over 5 years. Over 50% will go to the community. 25% is for protocol development, including treasury funds. 22% is allocated to strategic partners who have supported Drift's development
• A 10% allocation is reserved for a launch airdrop to existing users. The eligibility criteria will be revealed soon by the team
• Drift Protocol is the largest open-sourced perpetual futures exchange built on Solana
X Layer Public Mainnet
• @XLayerOfficial announced that they are opening the X Layer Mainnet to the public allowing everyone to be able to access their zkEVM L2
• There are already notable projects already deployed on X Layer such as @chainlink, @CurveFinance, @ether_fi, @RenzoProtocol, @swellnetworkio and @eigenlayer
• Additionally, the team is collaborating with @0xPolygon so Polygon’s AggLayer can facilitate a seamless flow of users and assets across the many L2s built with Polygon's CDK
Introducing JupSOL
• @JupiterExchange announced their very own LST on Solana — JupSOL with trustless delegation to Jupiter’s Validator
• The validator currently has 0% fees and 100% MEV kickback with an additional 100K SOL delegated to increase the yield on JupSOL allowing them to possibly be the highest yielding LST during this bootstrapping phase
• This validator will allow a better user experience. Having more stake on this validator will allow Jupiter to send more transactions and reduce transactions affected by congestion
Misc News
• @vela_exchange Grand Prix round 2 is live. Participants can win $PYTH tokens and Gold Bars
• @Arcade_xyz governance token $ARCD is live on mainnet. Users in season 1 can claim their tokens
• @KelpDAO native restaking is live on @Optimism
• @FjordFoundry announced that the LBP for $FJO is now live
*Reminder to Size Your Entry for Degen Plays and Take Your Principal Out (Take Profits) Whenever You Hit Your Target*