Pendle

Maker

2024

Karak

Phoenix

<ul>
 <li>MakerDAO polls were approved, initiating LITE-PSM-USDC-A Phase 1 and the Morpho market for Pendle PT tokens.</li>
 <li>Karak Network announces native staking for MKR tokens and a focus on NewGovToken.</li>
</ul>
In a <a href="https://x.com/MakerDAO/status/1815537710485873090" rel="noopener noreferrer nofollow">tweet</a>, MakerDAO announced that the latest governance polls had been approved by Maker Governance. The two polls to launch the LITE-PSM-USDC-A Phase 1 and activate a Morpho market for Pendle PT tokens, promoted by the Phoenix Labs and Block Analitica teams, were successful and will be included in a future Executive Vote.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The latest governance polls have been approved by Maker Governance.
 Promoted by <a href="https://twitter.com/phoenixlabsdev?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@phoenixlabsdev</a> and <a href="https://twitter.com/BlockAnalitica?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@blockanalitica</a> teams, the two polls to initiate the LITE-PSM-USDC-A Phase 1 and activate a Morpho market for Pendle PT tokens have passed and will be included in a future… <a href="https://t.co/yrtd5swNtq" rel="noopener noreferrer nofollow">https://t.co/yrtd5swNtq</a>
 — Maker (@MakerDAO) <a href="https://twitter.com/MakerDAO/status/1815537710485873090?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 23, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="strong-the-polls-lead-to-potential-major-enhancements-for-makerdao-strong">The Polls Lead to Potential Major Enhancements for MakerDAO&nbsp;</h2>
The polls were initially introduced on July 17. If the Executive Vote is approved, the following actions will be carried out: Initiate the LITE-PSM-USDC-A Phase 1 with the adjustments described in the poll specifics and activate a Morpho market for Pendle PT sUSDe with an October 25, 2024 maturity, as recommended in the poll results.
This represents a big step forward for MakerDAO’s ecosystem, since these steps are intended to improve platform functionality and provide more robust financial tools to its users.
Phoenix Labs previously proposed integrating a PT sUSDe market to address the need for fixed-rate products based on Ethena tokens. This integration is viewed as a deliberate step to meet the increased demand for fixed-rate products, which offer stability and predictability to investors seeking less volatile investment options.
<h3 id="strong-karak-network-introduces-native-staking-strong">Karak Network Introduces Native Staking&nbsp;</h3>
On another note, Karak Network <a href="https://x.com/Karak_Network/status/1815802593064714367" rel="noopener noreferrer nofollow">announced</a> that they are excited to add native staking capability to the MakerDAO token (MKR), with a long-term focus on NewGovToken. This announcement is expected to encourage more users to take part in the staking process, potentially increasing the value and utility of MKR tokens.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Accelerating Endgame
 We’re excited to bring native staking functionality for <a href="https://twitter.com/MakerDAO?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@MakerDAO</a> MKR and a longterm focus on NewGovToken
 Users can restake MKR to earn 1x Karak XP
 Scalable resilience, Sustainable user growth, Supercharged by Karak<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f34a.png" alt="🍊" class="wp-smiley" style="height: 1em; max-height: 1em;">
 Restake now: <a href="https://t.co/FIOLizMQMM" rel="noopener noreferrer nofollow">https://t.co/FIOLizMQMM</a> <a href="https://t.co/BgdToeIMMK" rel="noopener noreferrer nofollow">pic.twitter.com/BgdToeIMMK</a>
 — Karak <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f34a.png" alt="🍊" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Karak_Network) <a href="https://twitter.com/Karak_Network/status/1815802593064714367?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 23, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Furthermore, CNF <a style="color: #008000;" href="https://www.crypto-news-flash.com/makerdao-launches-spark-tokenization-grand-prix-for-real-world-asset-integration/" rel="noopener noreferrer nofollow">noted</a> that Spark of MakerDAO has announced the tokenization of a $1 billion Grand Prix to improve real-world asset registration.
This initiative is available to all innovators and issuers, and it aims to bridge the gap between traditional assets and blockchain technology, broadening the reach and application of MakerDAO’s services.
As we previously <a style="color: #008000;" href="https://www.crypto-news-flash.com/makerdao-founder-unveils-endgame-launch-introducing-newstable-and-newgovtoken/" rel="noopener noreferrer nofollow">reported</a>, MakerDAO founder <a style="color: #008000;" href="https://www.crypto-news-flash.com/the-journey-of-rune-christensen-and-makerdaos-success/" target="_blank" rel="noopener noreferrer nofollow">Rune Christensen</a> has indicated that Endgame, a new plan for governance, decentralization, and stability, will be launched this summer.
The introduction of Endgame is intended to bring about dramatic changes in MakerDAO, significantly decentralizing its governance structure and providing greater platform stability.
Meanwhile, the price of MakerDAO’s native token, MKR, is currently around $2,769.56, up 2.82% over the last 24 hours.

Big Moves by MakerDAO: Governance Polls and Staking

Table of Contents

Crypto News Flash

Other articles published on Jul 24, 2024

Ethereum Overtakes Bitcoin: Whales Favor ETH Following ETF Launch Surge

Bitcoin Expected to Revisit $50,000 in September-October, Aiming for $100,000 Next

Coinbase Lists New Altcoin BLOCKLORDS

Solend Rebrands to Save and Expands Innovative Product Offerings

What Will 100 Solana (SOL) Tokens Be Worth in 2025?

Crypto Carousel Sees Dogwifhat (WIF) Shine, Analysts Predict Crypto Casino Presale to 100X by Q3,...

Join our free newsletter for daily crypto updates!