MakerDAO will provide optional MKR conversion for the new governance token NGT

ChainCatcher news, according to CoinDesk, the crypto lending platform MakerDAO will allow MKR holders to convert their tokens into the newly issued NewGovToken (NGT) tokens. Holders will be able to exchange 1 MKR token for 24,000 NGT tokens, and MakerDAO hopes this will increase governance participation, as users will hold a larger number of NGT tokens.

In addition to launching NGT, MakerDAO also announced NewStable (NST), a new stablecoin that will be pegged to DAI at a 1:1 ratio. Both DAI and MKR will remain available, and the conversion is optional.