There are Psalms that talk about the significance of this covenant (see: Psalm 89, 132). After Jerusalem was destroyed by the Babylonians (see: 2 Kings 25), the Jews waited for a descendant of David to become king again. This person became known as the messiah or the Christ (see: Matthew 22:42; John 7:42).
Jesus was a descendant of David (see: Matthew 1:6-17; Romans 1:3; 2 Timothy 2:8). He is the messiah who rules forever (see: Luke 1:32-33; Hebrews 1:8; Revelation 5:5; 11:15; 22:16).