• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / DeFi / DeFi lender MakerDAO Finally Transitions To Complete Decentralization
DeFi lender MakerDAO Finally Transitions To Complete Decentralization

DeFi lender MakerDAO Finally Transitions To Complete Decentralization

July 22, 2021 by Chayanika Deka

Prominent Ethereum-based DeFi lending pioneer and stablecoin protocol MakerDAO’s plan to achieve full decentralization is in its last leg. The platform has announced that it is at the last stage of dissolving its foundation on the path to complete decentralized governance.

While declaring that the MakerDAO is now completely decentralized, Rune Christensen, the CEO of Maker Foundation, stated in a blog post that the Foundation will formally dissolve within the next few months and that the DAO is now fully self-sufficient.

“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 complete decentralization of Maker implies that the future development and operation of the Protocol and the DAO will be in the hands of the community engaged.

Quick take on MakerDAO’s rise to prominence in DeFi realm

Christensen had introduced the first iteration of Dai, then called the eDollar, on Reddit back in March 2015. Two years later, the MakerDAO developers launched and started to use the first version of Dai, dubbed ‘ProtoSai,’ which marked the first limited release of the Dai Stablecoin System and was a forerunner to the public launch of Single-Collateral Dai [SAI] several months later. In December 2017, the Sai white paper was published followed by the launch of Single-Collateral Dai.

In 2018, the DeFi foundation published its proposal that described the core principles for sustainable decentralized governance. The very next year, Multi-Collateral Dai was launched. In 2020, the MKR token contract was transferred to Maker governance, after which the token holders were presented with full control of the MKR contract. Maker Improvement Proposals [MIPs] framework was approved two months later which included MIP0 and two MIP sets.

Since then, the DeFi protocol has indeed come a long way. Recounting the milestones, the MakerDAO’s exec said,

“The global Maker community is now responsible for every aspect of the Maker Protocol and the DAO. I’m so proud of what we’ve done and what it signifies.”

Filed Under: DeFi, News Tagged With: DeFi, MakerDAO

Primary Sidebar

Recent Posts

  • JPMorgan Begins Utilizing Blockchain for Collateral Settlements May 27, 2022
  • MetaMask Joins Hands With Asset Reality to Assist in Recovering Stolen Crypto May 27, 2022
  • Bitcoin knowledge, the biggest flex May 27, 2022
  • Fakesters use LUNA 2.0 airdrops to target users May 27, 2022
  • Tether-ing in Mexico May 27, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.