Maker Foundation returns dev fund to DAO amid path to decentralization
May 4, 2021. Summarized by summa-bot.
Compression ratio: 45.7%. 1 min read.
MakerDAO’s foundation has returned most of its tokens to the protocol’s DAO, signposting the foundation’s transition toward dissolution.
The MakerDAO Foundation has returned 84,000 MKR tokens from its development fund to MakerDAO’s governance module, marking a milestone in the project’s path to decentralization.
In a May 3 blog post, the foundation notes that “no conditions or expectations” have been placed on MakerDAO regarding the returned tokens, with Maker Governance now having complete control over the tokens.
The announcement states that with the return of the development and the completion of recent technical contributions to Maker’s liquidation engine and its DAO’s core unit framework, the foundation will now focus on working toward its own dissolution to further decentralize the protocol:
The foundation will continue publishing progress reports until the dissolution is completed.
On the same day, MakerDAO announced the launch of a governance poll to determine whether to expand the vaults subject to its Liquidations 2. 0 Framework.