Artificial intelligence will be used to search the forum and help members make wise decisions.

Written by: Aleks Gilbert

Translated by: Mars Financial dlnews, Daisy

• Investors have high hopes for a thorough reform of the Maker protocol.
• The founder of Maker hopes to create a stable coin for the public.
• Plans to use artificial intelligence must wait for technological advancements.
• This effort continues the long-standing quest to bring cryptographic technology into the mainstream.

Despite the booming stablecoin market and the introduction of their own tokens pegged to the US dollar by financial giants, Maker's DAI has lost momentum.

The token supply of DAI is about 5 billion, but emerging, rapidly growing stablecoins are narrowing the gap. Meanwhile, established stablecoins Tether and Circle are expanding their lead.

However, Maker co-founder Rune Christensen's ambitious and controversial reform plan is just weeks away from being phased in.

The plan, first proposed in 2022 and known as "Endgame," will include rebranding, new tokens, new ways to earn income, the so-called subDAO, and artificial intelligence—all aimed at revitalizing the cooperative MakerDAO running the Maker protocol.

But they also aim to make Maker and its new stablecoin mainstream.

In his latest introductory book, Christensen stated that the goal is to increase the supply of DAI to "100 billion or more"—slightly less than Tether's $114 billion.

Christensen said, "We hope to attract a broader audience."

This is a tall order.

Although new products often claim to "attract the next billion users," most DeFi applications serve only thousands of users.

Endgame Controversy

Stablecoins are tokens pegged to another asset (usually the US dollar).

They are the closest thing in the crypto economy to cash and one of the few blockchain-based products with practical use in the real world.

Maker's DAI is considered a "decentralized" alternative to USDT and USDC, which can be frozen or seized by the issuer, much like money in a bank.

Christensen called Endgame a "Trojan horse" that can bring decentralized currency to the public. But the proposal has been highly controversial.

Over the years, the bill has undergone countless revisions, sometimes sparking heated votes, with critics accusing Christensen of abusing his immense influence at MakerDAO.

"Endgame" also has its supporters.

Mark Phillips, co-founder of the crypto consulting firm Steakhouse Financial, which collaborates with MakerDAO, told DL News, "Currently, our parents and grandparents wouldn't log into Maker." He said Endgame might change that.

Investors seem to like the plan. MakerDAO's governance token MKR has performed well this year, rising by over 60%, while the value of the entire crypto ecosystem has increased by 34%.

Maker's Rebranding

The first step of Endgame's "release season" will be to unveil Maker's rebranding, as well as the names of its new stablecoin and governance token.

A month later, both products will be launched alongside a new mobile app.

If users want to take advantage of Endgame's main feature—yield farming—they can choose to upgrade their DAI and MKR to "NewStable" and "NewGovToken."

Users can earn interest on the new stablecoin through Maker's existing savings rate (7% on Fridays) or in the form of governance tokens.

Those holding the new governance token can "activate" it to earn interest and participate in Maker governance.

The most loyal members of the cooperative can earn greater rewards by locking MKR or the new governance token on the platform.

Christensen said, "This is the best place for long-term savings and appreciation."

He said these rewards should attract new voters to join MakerDAO, which is currently dominated by "whales" who own so much MKR that they feel obligated to participate.

Phillips agrees with this.

He said, "A common problem in cryptocurrency and DeFi is that people often lack the incentive to participate in governance."

Artificial Intelligence

The final step will be to launch Maker's first subDAO—a cooperative within the MakerDAO cooperative.

The first subDAO will manage Spark, a lending protocol that has been around for a year, inspired by Aave and launched by Sam McPherson, the founder of Phoenix Labs.

SubDAO aims to address a problem that has plagued MakerDAO: cumbersome bureaucracy. Christensen stated that by outsourcing the management of certain functions to sub-organizations, it will help alleviate the fatigue of the volunteers running MakerDAO.

But the plan has encountered obstacles.

Christensen initially hoped to launch several subDAOs simultaneously.

Instead, only the Spark subDAO will be launched first, with others following as needed.

This is because "Avengers 4: Endgame" has placed a big bet on artificial intelligence.

McPherson told DL News, "Things are a bit complicated right now," when discussing MakerDAO governance.

Ultimately, artificial intelligence will be used to search MakerDAO's forum, where members discuss proposals and service providers share data and progress reports.

It is hoped that artificial intelligence can distill the activity on the forum and help members make wise decisions.

McPherson said that artificial intelligence "will help ordinary voters understand the progress in a very simple way, whether it's going well or not."

But the development of artificial intelligence is not fast enough.

Christensen said, "Artificial intelligence is great in most cases, but it also has many hidden errors and small issues that make it unreliable."

Meanwhile, Maker's co-founder believes that a new, cohesive brand and opportunities to earn income through tokens will drive widespread adoption.

"In this sense, it's a bit of an experiment," he said. "Perhaps what cryptocurrency lacks is a real effort to make it truly popular."

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