Maker Foundation sent $ 480 million to MakerDAO before disbanding

The Maker Foundation, the organization responsible for distributing the Maker protocol, today sent MakerDAO 84,000 MKR tokens worth about $ 480 million. Protocol users will now decide what to do with the stream. The Maker Foundation is preparing to self-destruct at the end of this year, truly decentralized; This is a sign that he is continuing the project run by anyone who owns and uses MKR tokens like him. Perhaps as proof, the price of MKR has risen 15% in the past 24 hours and is currently over $ 5,700, according to Nomics' data. Maker Foundation, Dev Fund Holdings DAOhttps: // – Maker (@MakerDAO) 3 May 2021 MakerDAO is a decentralized autonomous organization that is a flat-structured online group that uses tokens to vote on decisions. Maker is built on top of the Ethereum blockchain to allow people to borrow and borrow cryptocurrency with each other. Maker is the most popular decentralized finance (DeFi) product on the Ethereum network, helping to build a range of applications that allow people to hack brokers, whether it be borrowing and borrowing, coin trading or coin trading. derivative products. With DeFi, most things are automated with smart contracts: computer code that turns off agents. Most things. Aave officially hands over the keys to the DeFi community The presence of the Maker Foundation proves that not everything can be left to insensitive and ignorant computer code. The role of the foundation was to portray the DAO, make it self-sufficient, and then leave the stage to the left. It had a war chest known as the Development Fund, where 84,000 MKR tokens lived. The foundation paid from this fund by selling MKR. But he no longer needs it. "With the completion of the final technical contribution to the protocol (Purge 2.0) and the creation of the DAO Core Unit Framework, the Foundation is now solely

Join the Discussion

Back to top