MakerDAO co-founder Rune Christensen has released a new great proposal to push the project into its final form called The Endgame Plan.
With over 3,000 words, including 35 in-depth information, Christensen explained that Maker’s current management model creates a stalemate that makes it difficult for ethics to process “complex real-world financial agreements” and that reduces its competitiveness with financial institutions.
The focus of Christensen’s May 31 plan is the formation of MetaDAOs that are designed to address specific governance issues within the Maker ecosystem and reduce congestion in the current “slow and monotonous decision-making process.” Each MetaDAO can be considered as a subsection of MakerDAO, which would release its own symbol and be controlled by Maker participants who are interested in its specific goal.
Maker (MAKER) is a smart contract lending platform that issues DAI (DAI) stablecoins with Ether (ETH) as collateral. The Maker Foundation was previously responsible for managing ethics, but the Distributed Independent Organization (DAO) took over last year.
Although he believes that Maker’s complexity gives it the ability to seize the best opportunities, the use of MetaDAOs would help the protocol to focus its capabilities in smaller and more manageable areas. He wrote that with non-risk MetaDAOs, “Maker Core could be much simpler than it is today and create the best of both worlds.
“MetaDAOs also allow Maker to overcome the monotonic nature of the current management process and allow many separate MetaDAOs to prioritize and execute while having almost unlimited scope and autonomy.”
The first MetaDAO Christensen would see formed is M0, CreatorDAO to look for profit opportunities outside of Maker and take on some of the overly complex Maker. M0 would issue MZR management tokens with fair promotion through return management.
Christensen also suggests that Maker launch a ready-made ETH token called MATH to take advantage of the merger and generate more revenue with the lowest possible start-up costs.
“The lowest fruit of the Endgame Plan Launch is the acceleration of the current roadmap to launch a simplified version of Synthetic ETH soon.
MATH charges could initially be set at 0% to encourage its use, but eventually it could generate revenue for the protocol as synths have done for THORChain.
The focus of the program on revenue-generating products could be due to the fact that Maker is in the red. Core Designer at Yearn Finance (YFI) Banteg tísti Friday that “MakerDAO is back in war mode,” and shared a photo from the proposal that showed it was no longer profitable.
Rune is back from the search. MakerDAO is back in war mode.https: //t.co/XmHeWv0DGO image.twitter.com/fCHhoKX38M
– banteg (@bantg) June 2, 2022
The cryptocurrency community has received mixed reactions to the new proposal. On June 3, Rari Capital CEO Jay Bhavnani called the proposal “unnecessarily complex and over-optimized for many problems.”
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However, Compound Finance (COMP) founder Robert Leshner tísti June that he had been submerged and said that the plan was “complex, but in some sense” back to basics “in what Maker was meant to create: new artificial assets. Currently, only synthetic ETH has been submitted by Christensen.
Complex, but in a sense, “back to basics” in what Maker was meant to create; new artificial assets.https: //t.co/d57xO1L11t
– Robert Leshner (@rleshner) June 2, 2022
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