MakerDAO is democratizing the way we create and manage funding.
MakerDAO gives you:
✔ Voting power on how to allocate funds and resources.
✔ Access to the Maker token pool to liquidate or put back into the system.
✔ The ability to determine how our contract operates.
Apparently, the MKR holders community fired MakerDAO’s content team as they wanted more visibility, as we read in our latest cryptocurrency news. One of the first projects to take advantage of Ethereum changed how it operated back in July 2021, so rather than managing development and channeling funds in its foundation, MakerDAO will allow its token holders to run the show.
The Maker Foundation CEO Rune Christensen noted: “MakerDAO is now completely decentralized.”
The MRK holders fired MakerDAo’s content team, and it is clear that they had high expectations for the team’s capability. This week, after a long discussion, they decided to offboard the team known as the Content Production Core Unit. Deimos, a community member who proposed the proposal last month, argued that the team did not work fast nor with high quality:
“This team has produced two (arguably unremarkable) original videos since they started: Wormhole and How To Vote. The rest is just the [Governance and Risk meeting] remixed and rebranded in 7 different flavors.”
Deimos added insult to injury by arguing that the community memes are having an even bigger impact. In a 49.1% to 47.3% vote, the community voted the team to no longer be funded by MakerDAO. Members of the content team didn’t have much experience before Maker Foundation shut down. Seth Goldfarb worked as a freelancer for a year before taking over as unit facilitator in May 2021. According to Goldfarb, the Foundation will not hire him before he takes control:
“We participated in several calls coordinated by [former MakerDAO product manager and program lead Tim Black] to try and communicate with the Foundation’s MarComms team but legal restrictions kept them from sharing anything of substance.”
Several others noted that the original intent was to have the team work alongside the marketing department, which is full of veterans from the foundation. But that didn’t materialize, so more of the team was placed on the content team. While employees stayed on the project with new roles, the transition from the foundation to decentralized management was a bit messy. MakerDAO on the other hand was the first lending protocol to adopt Ethereum and it has its own stablecoin that is pegged to the US dollar.
Via this site.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
