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MakerDAO Forge: Igniting Innovation with Solana's Code

Sep 3, 2023 at 06:29 pm

Some members of the community have voiced concerns regarding this proposal. According to Rune Christensen, one of the founders of MakerDAO, the forthcoming native blockchain for the project should be built using the same foundational code as Solana (SOL), a network known for its impressive speed and performance.

In a post made on the governance forum, Christensen explained the rationale behind this decision. He highlighted the technical excellence of Solana's codebase, its resilience demonstrated during the FTX incident, and its successful implementations as key factors that make it a highly promising choice for further exploration. Additionally, he mentioned Cosmos as another contender worth considering.

MakerDAO, a prominent player in the decentralized finance sector and the issuer of the $5 billion DAI stablecoin, is currently undergoing a significant, multi-year transformation referred to as "Endgame." This initiative involves breaking the project into smaller, independent entities known as SubDAOs, each with its own tokens, and revamping the governance token MKR and stablecoin DAI.

The final phase of this transformation involves the introduction of a bespoke blockchain, temporarily known as "NewChain," which aims to connect all SubDAOs and enhance the ecosystem's resilience to governance attacks and technical issues, as outlined in Christensen's forum post.

Christensen cautioned that NewChain is a long-term project likely to take at least three years to complete. For the Solana ecosystem, which has faced challenges following the FTX collapse and the decline of Sam Bankman-Fried, a major supporter and investor, Maker's endorsement could represent a significant symbolic victory.

Anatoly Yakovenko, co-founder of Solana Labs, expressed his amazement on social media following Christensen's comments, emphasizing the importance of code reuse across ecosystems for accelerated growth.

Austin Federa, head of strategy at the Solana Foundation, commended Rune's proposal as an exemplary instance of how Solana's high-performance technology and the Solana Virtual Machine can drive the next wave of innovation within the blockchain space.

However, there has been pushback from certain members of the community against Christensen's idea, with requests for more extensive research and alternative solutions. Renowned crypto researcher Hasu questioned whether Solana and Cosmos were the only viable options, suggesting the consideration of an EVM-based rollup. Long-time community member Tosh9.0 also posed a valid query, asking why Maker couldn't deploy its own chain on a layer 2, citing Coinbase's example.

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