Ethereum Co-Founder Vitalik Buterin Sells MakerDAO Tokens as Project Considers Move to Solana
Ethereum co-founder Vitalik Buterin has sold his remaining stake of 500 MakerDAO tokens on CoW Protocol, receiving 353 ETH worth about $580,000 in return. This comes after MakerDAO co-founder and CEO Rune Christensen outlined long-term plans for a reimplementation of the project on a new blockchain, potentially forked from Solana. Christensen sees potential in Solana’s codebase due to its technical quality, resilience, and successful forks like the Pyth Network. He also mentioned Cosmos as another contender for the new codebase. MakerDAO’s dai stablecoin is currently the third-largest USD-pegged stablecoin with a supply of $3.9 billion. Buterin acquired his initial stake in April 2018 and has gained about 27% on the tokens he sold today.
Key Points:
- Vitalik Buterin sold his remaining 500 MakerDAO tokens on CoW Protocol.
- Rune Christensen considers a move to Solana’s codebase for MakerDAO’s reimplementation.
- Christensen sees potential in Solana due to its technical quality, resilience, and successful forks.
- He also mentioned Cosmos as another contender for the new codebase.
- MakerDAO’s dai stablecoin is currently the third-largest USD-pegged stablecoin.
Hot Take: Vitalik Buterin’s sale of his remaining MakerDAO tokens and the project’s potential move to Solana indicate the dynamic nature of the crypto space. As the industry evolves, projects must adapt and explore new avenues for growth and development. The consideration of Solana’s codebase and the possibility of acting as a bridge between Ethereum and Solana highlight the interconnectedness of different blockchain ecosystems. This move could have a significant impact on the multichain economy, potentially enhancing the network effect and expanding the reach of MakerDAO’s stablecoin.
Theon Barrett shines as a distinguished crypto analyst, accomplished researcher, and skilled editor, making significant strides in the field of cryptocurrency. With an astute analytical approach, Theon brings clarity to intricate crypto landscapes, offering insights that resonate with a broad audience. His research prowess goes hand in hand with his editorial finesse, allowing him to distill complex information into accessible formats.