MakerDAO plots AI governance “endgame”
MakerDAO announced May 11th A governance model powered by artificial intelligence (AI) and featuring new branded crypto tokens.
Founders Aim for Balanced Governance
According to a forum post by MakerDAO founder Rune Christensen, AI tools create a “governance equilibrium” that directs development.
Many of the planned features will be linked to a new token intended to unify the Maker Governance Token (MKR) and Dai Stablecoin (DAI) under a new brand. These new tokens will be released in Phase 1 of the plan over the next few months, allowing users to upgrade their older tokens as needed.
In the next phase, Maker will release 6 SubDAOs. They are responsible for specific tasks delegated by MakerDAO and can utilize AI. A user can also farm tokens from her SubDAO, which is not available for US users.
Next, MakerDAO will introduce new governance tools that allow users to summarize, validate, and generate governance proposals with the help of AI. These features are limited and accessible to anyone holding a new Maker token.
In the last two stages, MakerDAO will launch governance participation incentives and a new blockchain that will make the DAO’s core functionality immutable.
Maker aims to be the #1 stablecoin
Through this roadmap, Christensen said MakerDAO aims to become “the largest and most widely used stablecoin project” in just three years.
This goal is ambitious given the dominance of centralized stablecoins such as USDT, USDC and BUSD. Tether’s USDT stablecoin is the strongest of these stablecoins, with a market cap of $82 billion and a 24-hour trading volume of $20 billion.
Still, DAI is among the top five stablecoins by both criteria, with a reported market cap of $4.6 billion and a 24-hour trading volume of $165 million. So even if it fails to overtake its competitors, it may still remain important.
An article about MakerDAO planning an AI governance “endgame” first appeared on CryptoSlate.