- A16z disagrees with the founder’s plan to split MakerDAO.
- Almost 90% of voters support the establishment of MetaDAOs.
The top venture capital firm, Andreessen Horowitz known as a16z disagrees with the founder’s plan to split MakerDAO, one of the most prominent decentralized finance (DeFi) protocols in cryptocurrency, into smaller entities. A16z is an investor in Maker with the ability to influence votes in decision-making.
According to the recent report, A16z argued against several of the points made in MakerDAO creator Rune Christensen’s “Endgame” statement on how to make Maker more decentralized and censorship-resistant.
The Ongoing Probe
The network is changing, and the argument over whether to prioritize decentralization over accelerating expansion raises a fundamental issue for crypto protocols. MakerDAO is currently debating whether to enhance the system or strengthen it against regulatory issues.
In May, MakerDAO’s founder Rune Christensen released the “Endgame” plan, a bold framework for the protocol’s future that aims to make it genuinely decentralized and immune to any potential expansion and censorship from governments. His strategy includes allowing DAI to float freely and removing centralized assets from reserves that could be blacklisted or seized.
Following that, MKR holders can vote on two proposals to restructure MakerDAO, including splitting the protocol’s management units into separate MetaDAOs. At the time of writing, surveys indicated that almost 90% of voters were in favor of the establishment of MetaDAOs at the expense of Core Units.
The blue-chip DeFi protocol Maker, allows users to withdraw and lend cryptocurrency automatically. Additionally, it issues DAI, a $6 billion decentralized stablecoin backed by $7.8 billion in investor-locked assets. At the time of writing, Maker (MKR) traded at $1,115, which increased by over 3% in the last 24 hours. And, MKR surged by more than 14% in the last 7 days and around 76% in the previous month, as per CMC.