MakerDAO, DeFi’s biggest protocol by total value locked, is undergoing changes that may affect everything from how it’s governed to the price of DAI, the stablecoin it issues.
MKR token holders voted overwhelmingly in favor of making big changes to the project’s structure in line with the Endgame Plan laid out by Rune Christensen, MakerDAO’s founder.
This plan, called the Endgame Prelaunch Maker Improvement Proposal Set, passed with 80% support in a vote yesterday, Oct. 25.
This matters for a few reasons: changes proposed affect the largest DeFi protocol and it also impacts DAI, the fourth largest stablecoin measured by total supply. It also matters as it’s one more episode that highlights the complexities of decentralized governance.
0:00 Big changes for MakerDAO
0:24 Why it matters
0:53 The Controversy
1:37 The Proposal
1:52 Major Change #1 Introduction of MetaDAOs
3:06 Major Change #2 Protocol Owned Vault
3:27 Major Change #3 25% limit
4:13 3 strategies
4:57 Historical Impact
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