MakerDao Finally Ushers in Decentralized Governance
This decision of the Maker Foundation has won a good market response, although today With the overall downward trend of the market, there has been a certain correction, but a few hours after the transfer of control (in the early morning of May 4th), MKR once rose to a historical high of $6,347. If calculated at this price, this transfer The 84,000 MKR tokens will be worth as much as $530 million.
Since MakerDAO was officially launched in 2017, the Maker Foundation has been playing an important role in the development of the project A key role, with the support of the foundation, the supply of DAI has grown from zero to more than 4 billion, and has gradually grown into the entire DeFi The solid foundation of the world. However, after the completion of the transfer of control over the development fund, it may be time to say "goodbye" to the Maker Foundation in advance.
As early as April last year, the Maker Foundation stated that it planned to begin handing over governance power to the community within the next two years. At a governance conference in early 2020, the Maker Foundation outlined an envisioned framework for a self-sustaining decentralized autonomous organization (DAO). Rune Christensen, CEO of the Maker Foundation, also made it clear: "The current reliance of the Maker ecosystem on the Maker Foundation is unsustainable in the long run. The Maker Foundation needs to accelerate its dissolution and begin to transfer its risk management capabilities to the community. ”
When this milestone progress was reached, the Maker community once again discussed the dissolution of the Foundation and the subsequent "organization" change The matter was discussed. Accepting overseas encrypted currency interview, Nadia Alvarez, responsible for Maker's business growth in Latin America, said: "For the entire Maker For the community, this (the transfer of control over the development fund) is obviously a big event, and all the work is aimed at accomplishing an ultimate goal - to achieve true decentralization. The Maker Foundation is disbanding, and each team will be based on the "core Team" (Core Unit), restarting its work with the support of Maker Governance, we will see that this will have a positive impact on the entire Maker community, making It just gets stronger.”
Working on Maker Real WorldFinanceSébastien Deriaux, who expanded related work, further stated that under the management mechanism of DAO, the operation of the "core team" needs to strictly follow the "Core Unit Framework” (Core Unit Framework). Currently, at least 10 teams have submitted proposals to continue operating under the support and oversight of the DAO, including the Growth Core Unit where Alvarez is.
Odaily Planet Daily Note: " The core group framework" is the specific specification formulated by the Maker community for the establishment and operation of the core group after the foundation is disbanded. The framework requires that the establishment of the core group requires a proposal application and must be approved by the governance of the Maker community.
Deriaux further stated that the first two core groups will be composed almost entirely of former Maker Foundation However, the team members of the three core groups of Governance, Risk and Real-World Finance will only have worked for DAO.
For Maker itself, standing at the current time node, although it is difficult for us to judge the core group mode compared It depends on which foundation model is better in terms of specific operational effects, but one thing is basically certain— The dissolution of the Maker Foundation will significantly reduce the regulatory risk of the project, because the DAO Not a legal entity. Under the new organizational model, Maker will eventually move towards complete decentralization controlled by the community.
From an industry perspective, Maker's decentralization efforts will undoubtedly have a profound demonstration effect on the entire DeFi world. If the Maker Foundation finally completes the dissolution work in the future, it will become the first legal entity in the encryption world to give up its asset control and ecological detached status in order to realize DAO. Set a benchmark for the long-term goal of DeFi projects. From the perspective of demonstration effect, it may be just like Coinbase The impact of the successful listing on other CEXs that intend to impact the traditional capital market.
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