Lending platform MakerDAO has taken a major step forward in its "Endgame" plan, as its community approved a new set of rules that establishes the protocol's governance, development, and investments of its reserve.
The proposal includes a "Constitution" that outlines the platform's guiding principles, written by Maker founder Rune Christensen. The plan involves breaking up the DAO's current structure into smaller self-governing entities called SubDAOs, which are self-governing and self-sustaining entities with their own tokens within the MakerDAO ecosystem.
The proposal also invovles plans to boost platform revenues by investing a part of its $7 billion reserves into real-world assets and money-market funds, and further decentralizing the backing of its stablecoin $DAI to make it more resistant to censorship and sanctions.
The move will restructure the DAO's governance by establishing new groups such as Constitutional Voter Committees, Constitutional Delegates, and Constitutional Conservers. The approval marks a significant milestone in MakerDAO's major restructuring initiative.