MakerDAO Lianchuang: MakerDAO will launch new stablecoins and new governance tokens

Compilation and compilation: Golden Finance

The crypto industry event Token 2049 will open on September 13, 2023. Golden Finance conducted on-site tracking and reporting of the entire meeting.

On the morning of September 13, MakerDAO co-founder Rune Christensen’s speech was titled “MakerDAO Endgame”.

Rune Christensen’s speech was quite exciting, so Golden Finance compiled the content of Rune Christensen’s speech as follows, and attached the PPT of the speech.

The following is the content of the speech:

I’m here to give you a rundown of the biggest thing to happen in cryptocurrency in a long time, and it’s a great game. So before we start digging in, let’s just talk a little bit about why are we here?

Focus on actual delivery, real value, and focus on the full potential of technology

We are here because we believe blockchain can do a lot for the world to help fix the financial system, which will improve lives around the world.

The thing is, not everyone is here for the same reasons. In the past, many people saw Ponzi schemes in this space, with many people making quick money and not really caring about the potential of the technology itself.

This affects the reputation of the industry.

But the good news is that there are projects out there that are doing real work. While everyone is busy getting rich and doing valueless things, we remain consistent and hope to provide real value. This also allowed us to ultimately achieve tremendous growth.

In our smart contract system, people from around the world collaborate to manage the Dai stablecoin, the world’s largest decentralized stablecoin. In fact, the Dai stablecoin has reached a circulating supply of over $5.2 billion in the past two months, an increase of almost $1 billion. The Dai stablecoin generates over $170 million in annual profits and continues to grow.

**We hope that when the industry returns, it will no longer just focus on currency prices and hype, but can focus on actual delivery, real value and real growth, focusing on the full potential contained in the technology. **But to achieve this, we will have to reach the ultimate goal of Maker and have to rethink many of the core elements that make it up in order to enable us to truly realize the full potential of this.

Maker DAO will launch four “subDAO”

First, we'll be making a relatively small improvement that will symbolize a new era for this project. We will introduce a new brand to attract more people to participate and make it easier for people to start using stablecoins. At the same time, it is also to help the user group and ecosystem achieve better governance.

What we really need to address are governance and scalability issues. Maker has had so much success that we have reached a limiting point where the Maker DAO becomes too large to be controlled before it has too much real value. It is quite difficult for ordinary people to try to participate in major governance.

We are entering a new paradigm called "subDAO". We hope to be able to focus on specific products, specific markets, and be able to self-organize into unique communities with the required culture to do what they want to do. We hope to achieve this goal through the launch of "subDAO". Four "subDAOs" will be launched initially, with more to come, all of which will have their own tokens. These tokens actually represent all the untapped value and potential that exists within Maker, which is distributed to users. To get these tokens for free, the only thing you need to do is upgrade your Dai to a new system version. If you do this, you will have a chance to earn these "subDAO" tokens.

There are so many opportunities to explore across the entire crypto ecosystem to discover all the value and potential that Maker has built. One of the truly unique things about Maker is its small size, flexibility, and ability to make decisions quickly. They also capitalize on the massive scale and potential they have built up in the ecosystem over the past 8 years. As these "subDAOs" synergize with each other, this potential will only continue to grow. They will gain access to shared economic scale, the Dai stablecoin’s massive collateralized portfolio, user base, and the trust and track record that comes with the Maker brand. They will also share governance, infrastructure, and even future artificial intelligence tools, even though they Small and flexible entities in their own right, but they are all able to grow together and build on each other.

Now, one of the hardest things is dealing with team members. They have budget cuts to recruit project members, and selecting project members is very difficult. This kind of thing is actually very tricky. So the power of "subDAO" is that they can basically do all the hot stuff for free because they have full access to the full Maker community ecosystem from the moment they launch. We have built this ecosystem over the past 8 years. We have some of the top Maker developers who are outstanding contributors to the entire industry. And this will continue to grow. So as a "subDAO" you don't have to worry about all the complicated and difficult stuff, as a newly formed community you can focus on having fun i.e. deciding what the "subDAO" wants to do, deciding in which area it wants to play a role, and then Decide how much you are willing to pay to complete these tasks.

The ecosystem then ensures that top quality contributors are already available to accomplish what you want to accomplish at a reasonable price. Again how unusual this is as this is usually a problem most projects encounter. Now, everything is ready.

As I said before, "subDAO" is created by creating "utopians" and then distributing them to holders of upgraded versions of Dai. These holders receive "subDAO" tokens and they are the sole holders of the genesis distribution. This is a truly fair launch of "subDAO".

Once subDAO is launched, an important issue is that holders of these new tokens must decide the direction of "subDAO". Because we don’t just want to launch a bunch of tokens and throw people into a completely blank scenario, without any ideas, without any direction. For the original "subDAO", we've been incubating some very high-quality companies called "nested teams" that basically have very compelling starting points.

Let’s discuss the complete initial “subDAO” in detail and how they will explore the different dimensions of what is possible in this new paradigm. Therefore, each "subDAO" must focus on community building and must truly develop a compelling community, because community, culture and brand are the foundation for their normal operation.

If you have a fully functional community, you can provide them with some powerful DeFi technology. This is exactly what Maker excelled at in its early days. These technologies can be leveraged to go out into the real world, interact with institutions and conduct real asset transactions. That's what we're seeing, the real economies of scale, the real potential is here, with DeFi. I will briefly describe each "subDAO" one by one.

The first is "SakuraDAO", which aims to create something very easy to understand, without doing too much through the complexity of DeFi. It focuses on sustainable revenue, sustainable economy, and using these to develop content, such as games, and provide value. It's really less about money, less about complicated finance, and more about having fun in a DAO and seeing what's possible with this paradigm.

Then there is "SparkDAO". It focuses on the most cutting-edge DeFi innovation. The Spark protocol already has an actual product running. In fact, the Spark protocol has become one of the top 25 DeFi projects in the world, with a total locked-up value of approximately US$50 billion, and it continues to grow. And "SparkDAO" will have the ability to continue to drive this innovation and growth and launch more innovations. "SparkDAO" hopes to always be at the forefront of all DeFi innovation and build real-life products that people are willing to use.

The third is "QuantDAO". First of all, we must realize that "QuantDAO" is just a code name. The key is to focus on the intersection of technology and finance, and think about when technology, finance and high-scale, high-speed, high-frequency tokenized transactions, actual asset allocation, and market makers possibilities when combined.

The fourth is "QualDAO". One of QualDAO's unique value propositions is the real asset structure. In fact, it is the largest real asset structure in the world, with over $1 billion currently pumped into the treasury.

In short, **MakeDAO will have 4 subDAOs: Sakura, Spark, Quant, and Qual. Sakura is a subDAO for communities; Spark is a DeFi subDAO with the latest technology; Quant and Qual are subDAOs for finance and institutions. Quant focuses on the intersection of technology and financial possibilities, including expanding RWA, market making, large-scale high-speed and high-frequency Tokenized transactions, etc., Qual targets specific finance (such as private credit and its tokenization) and China, India and Southeast Asia. **

Best of all, this is a very powerful and scalable structure that can provide the foundation for all future real estate projects so that they can get started really quickly. Again, this is just a temporary codename and will change. At its core, then, is a deep dive into the highly specialized world of finance. Not just large-scale credit, but private credit as well, these deals have the potential to deliver better returns if you make the right choices and have the right expertise.

Right now, we are betting that there will be really great private credit transactions that really showcase the potential of "subDAO" and the token model.

We hope to develop this product in more places and carry out localized design so that it can reach its greatest potential as much as possible.

"QualDAO" will also be tied to an alignment structure called "Andromeda", which is Maker's second largest real asset structure and has nearly $1 billion of real assets injected into it. It is very strong and ready to expand further to accommodate "QualDAO" requirements.

All "subDAOs" are designed to make it easier to participate. One of the key enablers will be staking, where stakers can choose to participate more deeply and actually become the ones making decisions and driving the “subDAO” forward.

One thing we've learned at Maker over the past 8 years is that DAOs don't work if they're only about money. There has to be something more compelling, something deeper to bring the community together. **That's why we developed what we call the "Purpose System". Basically, this means that every subDAO and Maker must commit to funding public welfare products, not just doing something to make money. It turns out that if you do this, you will attract better talent to subDAO. You will maintain the internal cohesion of subDAOs and ultimately allow them to create greater value.

All that's left is to participate, and everyone should participate. You can join the discussion, join the Maker forum, and learn more about "subDAO". Early next year we will launch a new brand and a new token so you can upgrade Dai.

Finally, around the second quarter of next year, if everything is ready, these "subDAOs" will be launched. As I said, this will be the biggest event in crypto. So when they launch, if you want to participate from the bottom, you need to figure out which "subDAO" is right for you, which community is right for you, where can you provide value? Then in return, benefit from the growth in token value and community value.

Thank you all for listening.