co-founder Vitalik Buterin significantly reduces his stake in MakerDAO by selling a large amount of MKR tokens.
- MakerDAO is working on an ambitious project called “NewChain”, aiming to transfer the Maker protocol to a new and independent blockchain ecosystem.
- Rune Christensen, a supporter of MakerDAO’s strategic shift, suggests using the Solana codebase as the fundamental framework.
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Vitalik Buterin, co-founder of Ethereum, has significantly reduced his stake in MakerDAO, a leading player in the decentralized finance (DeFi) sector, by selling a large amount of MKR tokens.
Meanwhile, MakerDAO is working on an ambitious project called “NewChain”, with the primary goal of transferring the Maker protocol to a new and independent blockchain ecosystem. Rune Christensen, a supporter of this strategic shift, suggests using the Solana codebase as the fundamental framework.
Buterin’s Big Sell-Off
In an unexpected move that garnered significant attention, Vitalik Buterin sold a substantial amount of his Maker shares. This transaction involved the sale of 500 MKR tokens in exchange for 350 ETH and was conducted via CoWswap. This sale was Buterin’s first MKR sale in two years, and the 350 ETH proceeds were transferred to the 0x3F…2aEB address. Currently, this address holds assets worth $1.09 million, including 415.76 ETH. Following this sale, the MKR price experienced a noticeable drop, and the effects spread across the market as a sharp decline in MKR’s network growth was observed.
New Developments from MakerDAO
Following the aftermath of Vitalik’s MKR sale, MakerDAO embarked on a significant journey with the development of “NewChain”. Rune Christensen, co-founder of MakerDAO, stands as a prominent advocate of this initiative. NewChain is a critical component of the comprehensive “Endgame” upgrade, a three-year-long project. The primary goal of the project is the complete reimplementation of the Maker protocol in a new and independent blockchain ecosystem.
Paradigm Shift for MakerDAO
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Rune Christensen’s proposal brings about a paradigm shift for MakerDAO. He advocated for serious consideration of the Solana codebase as the fundamental framework for NewChain. This strategic shift away from MakerDAO’s Ethereum roots signifies the project’s commitment to exploring alternative blockchain solutions in pursuit of advanced protocol capabilities.
The recent developments surrounding MakerDAO, including Vitalik Buterin’s significant MKR sale and the ongoing work on the ambitious “NewChain” project, indicate a period of significant change for the DeFi player. With a strategic shift towards a new blockchain ecosystem and a potential paradigm shift with the consideration of the Solana codebase, MakerDAO is poised for a transformative journey in the blockchain space.