Creator of the DAI Stablecoin, MakerDAO Will Become Fully Decentralized
MakerDAO is one of the first and most well-known projects focusing on decentralized finance, it is best known as the creator of the DAI stablecoin, but DAI is enabled by a lending system that has allowed many crypto holders to make use of their assets without selling them.
If Uniswap is the UNICORN, MakerAO is the GODZILLA of the decentralized finance. The most stronger DeFi project since it was born and presented to the public.MakerDAO is now completely decentralized.
With several Core Units approved by governance to efficiently organize all areas of work within the DAO and the global community now responsible for every aspect of the Maker Protocol, the DAO is now fully self-sufficient and the Maker Foundation has fulfilled its bootstrapping responsibilities. The Foundation will formally dissolve within the next few months.
Six years ago, when Rune Christensen, Maker Foundation CEO, introduced the first iteration of Dai—what I called the eDollar—on Reddit, I hoped that it would become a popular currency that average people could use on Ethereum to interact with dapps—without having to worry about insane volatility. Today, there are over 5 billion Dai in circulation and over $8 billion in assets locked in the smart contracts of the Maker Protocol.
While the Foundation played a specific and important role in the further development of the Maker Protocol and the growth of a global team, it was designed to exist only temporarily. It was created as a means to an extraordinary end—a self-governed, self-operating DAO.
MAKERDAO MILESTONE FROM 2015 TO PRESENT
- March 26, 2015: MakerDAO and its first stablecoin are introduced
- November 2015: The MakerDAO team presents at DevCon1
- May 2017: ProtoSai goes live
- December 10, 2017: The Sai white paper is published
- December 19, 2017: Sai launches
- June 21, 2018: The Foundation Proposal is published
- November 18, 2019: Multi-Collateral Dai goes live
- March 25, 2020: The MKR token contract is transferred to Maker governance.
- May 2, 2020. The MIPs framework is approved
- March 25, 2021: The Core Units framework is ratified
- May 3, 2021: The Maker Foundation returns Dev Fund holdings to the DAO
- June 2, 2021: The Liquidations 2.0 Module is activated
- July 20, 2021: Rune Christensen announces the full decentralization of MakerDAO
The global Maker community is now responsible for every aspect of the Maker Protocol and the DAO
ABOUT MAKERDAO
MakerDAO is the Godzilla of DeFi, best known as the creator of the DAI stablecoin. MakerDAO enables the generation of Dai, the world’s first unbiased currency and leading decentralized stablecoin.
RESOURCES
MakerDAO Blog
