MakerDAO, the DeFi project that combines stablecoins and DAOs, will return to its decentralized nature with the dissolution and closure of the Maker Foundation.
In the coming months, MakerDAO governance will return to decentralization and be in the hands of the community. rune christensen, CEO of the Maker Foundation, revealed that the project plans to return to decentralization with the dissolution and closure of the Foundation, the organization in charge of directing and guiding its development and evolution since 2014.
Christensen shared a publication on the Foundation's official blog, where he explains that the MakerDAO project is now completely self-sufficient and that the global community that makes it up will soon be able to organize and work efficiently on its development in a 100% decentralized way. For Christensen, the Maker Foundation has fulfilled all of its initial responsibilities to boost MakerDAO as one of the largest DeFi projects in the crypto world. Now it's the crypto community's turn.
MakerDAO was born in the ecosystem of decentralized finance (DeFi) to combine the potential of the stablecoins and DAO (Decentralized Autonomous Organization). In addition, this project is responsible for the creation and development of the protocol Maker on which the stablecoin is based DAI.
To date, MakerDAO is the sixth most important project in the DeFi ecosystem that is developing in the blockchain de Ethereum, with a total liquidity of $6.100 billion. In the last few hours, its governance token MKR has seen an 11% growth, reaching a value of $2.430 per unit.
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DAI, a world of financial opportunities
When Christensen created the Maker Foundation, he did so with the intention of dissolving it within a few years. Now the time has come, the CEO said, highlighting the achievements made in the arduous years of work and development.
In his post, Christensen argues that DAI was born with the idea of being a popular currency among Ethereum users so that they could interact with the dApps without volatility risks. However, the stablecoin has had a great impact on the crypto ecosystem and has become one of the most important today. Its market capitalization exceeds, at the time of this edition, 5.400 million, ranking among the top 20 cryptocurrencies on the market.
From Foundation to DAO, again
MakerDAO's journey in the crypto ecosystem during its few years of life has been incredible. Thanks to the smart contracts On the Ethereum blockchain, its ideas focused on community governance and the birth of the first stablecoin governed by a DAO, made Maker one of the largest and most important DeFi projects in the ecosystem.
Learn with Bit2Me Academy: What is MakerDAO?
The Maker Foundation played a pivotal role in this milestone, developing a global team and managing and promoting the project to ensure its success. MakerDAO now has a highly independent, passionate and engaged community that will ensure its future.
Christensen did not elaborate on when the Maker Foundation would be dissolved, but said it would happen in the coming months.
DeFi, the future of finance
This month, MakerDAO is the third organization to highlight the importance of decentralization in today’s world. MakerDAO’s decentralization plans were announced by Christensen himself in 2015. Also in May, the Maker Foundation returned a total of 84.000 MKR tokens, worth an estimated $480 million, to MakerDAO, showing that it was prepared to begin dissolving in the near future.
Christensen said, in 2019, who wanted to once again be an independent member of the community and a participant in the Maker protocol without being in charge of it.
On the other hand, the financial services platform with cryptocurrencies shapeshift recently announced that it would dissolve its organizational structure to adopt decentralization as an alternative to ensure its development and evolution and to offer more reliable, equitable and efficient financial services.
Likewise, Jack Dorsey's payment services company, Square Square said it would create a new business unit focused on decentralization. Square plans to build an open-source development platform so that programmers and developers can design decentralized applications and innovative solutions accessible to anyone, at any time, from anywhere in the world.
Continue reading: Square is also betting on decentralization for permissionless financial services
