MakerDAO announced on May 11 a governance model that will make use of artificial intelligence (AI) and feature crypto tokens with a new brand.
Founder aims for “governance equilibrium”
According to a forum post from MakerDAO founder Rune Christensen, AI tools will create a “governance equilibrium” that directs development.
Many of the planned features will be linked to new tokens intended to unite the Maker governance token (MKR) and the Dai stablecoin (DAI) under a new brand. Those new tokens will be released in the first phase of the plan over the coming months, and users will be able to upgrade their old tokens optionally.
In the next stage, Maker will launch six SubDAOs. These will be responsible for certain tasks delegated from MakerDAO and can make use of AI. Users will be also able to farm tokens from SubDAOs, though this will not be available to U.S. users.
Next, MakerDAO will introduce new governance tools that allow users to summarize, verify, and generate governance proposals with the help of AI. These features will be gated and accessible to those who hold Maker’s new tokens.
In the last two stages, MakerDAO will launch governance participation incentives and launch a new blockchain that makes DAO’s core features immutable.
Maker aims to be #1 stablecoin
Christensen said that through this roadmap, MakerDAO aims to become the “largest and most widely used stablecoin project” in just three years.
That goal is ambitious given the dominance of centralized stablecoins including USDT, USDC, and BUSD. Tether’s USDT stablecoin is the most dominant of those stablecoins, with a market cap of $82 billion and a 24-hour volume of $20 billion.
DAI is nevertheless among the five largest stablecoins by both measures, as it reports a market cap of $4.6 billion and a 24-hour volume of $165 million. As such it will likely remain significant even if it does not overtake its competitors.
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Mike Dalton
Before transitioning to crypto writing in 2018, Mike studied library and information sciences. Currently, he resides on Canada’s West Coast.
