Why Maker Wants to Reimplement on Solana
If you’re a user of Maker, the stablecoin protocol behind dai, you might be interested to know that one of its cofounders, Rune Christensen, has proposed an intriguing idea. He wants to reimplement the protocol on top of a fork of Solana, a blockchain platform. The goal is to address any technical failures or governance attacks that could arise in the future. This proposal is part of Maker’s roadmap evolution, known as “Endgame,” which aims to enhance efficiency, resilience, and participation in the protocol.
Christensen believes that building a separate blockchain solely for Maker’s backend will help tackle the technical debt accumulated over eight years. It would involve redesigning and custom-building each component to perform its specific function. However, he estimates that this process will take at least three years to complete.
So why Solana? According to Christensen, it offers three significant advantages. Firstly, the technical quality of Solana’s codebase is highly optimized for running a single blockchain. Secondly, Solana has demonstrated resilience even after major incidents like the fall of FTX, suggesting it can withstand attacks and remain stable in the long term. Lastly, Solana has already been adapted for app chains, making it a suitable choice for Maker’s needs.
Criticism and Clarification
Christensen faced criticism on social media, with some users arguing that most Maker users are loyal to the Ethereum protocol. However, he clarified that his proposal would not impact the user experience, as all user-facing aspects of Maker and the protocol tokens would still be built on top of Ethereum. In a tweet, he emphasized the importance of the Ethereum Virtual Machine (EVM) for user-centric development while stating that a specialized backend for Maker’s specific requirements would be better served by Solana.
Despite the backlash, Christensen condemned crypto tribalism and expressed appreciation for Ethereum, Solana, and Cosmos, emphasizing that they are all excellent blockchain platforms. In his view, those who engage in tribalistic behaviors are stuck in the wrong decade.
Hot Take
Maker’s proposal to reimplement the protocol on Solana’s fork is an ambitious move aimed at improving the stability and efficiency of the platform. While some users have expressed concerns, Maker intends to maintain its user-facing components on Ethereum. This decision showcases the importance of collaboration between different blockchain ecosystems and highlights the need to leverage the strengths of each platform for specific use cases. As the crypto industry continues to evolve, tribalism should give way to a more inclusive and cooperative mindset, fostering innovation and growth.
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