🌓Maker evolved into a fully decentralized organization! Thanks to the master (CEO) @RuneKek announcing that MakerDAO is now completely self-sufficient and the Foundation has successfully finished its responsibilities. Let's explain this MakerDAO's milestone in a thread 👇

🧠Six years ago, Rune conceived Dai in his mind as "e-dollar". His vision was "a popular currency that average people could use on Ethereum to interact with dapps without having to worry about insane volatility".

🔭What a vision Rune! Today, MakerDAO's team and the Ethereum ecosystem has turned this vision into reality with over 5 billion Dai in circulation, over $9 billion in assets locked in the Maker Protocol and over 40% of all Dai locked in DeFi protocols. ✊

🏗️From the beginning, Maker was intended as a fully decentralized organization. But, who was going to build everything needed to make this work that way? That's the reason for the Foundation: a group of selected members with the mission of building the pillars.

📣"It’s gone from a DAO, created by myself and a few passionate developers, to a Foundation tasked with bootstrapping an amazing project, and back to a DAO". Said Rune in the "MakerDAO Has Come Full Circle" announcement.

✅After all goals achieved, MakerDAO started to dissolve the Foundation. The milestone to complete the evolution was the approval of Core Units: a group of independent core teams with the responsibility of supplying all Maker needs to keep working and growing the Protocol.

🗳️But, one of the most relevant facts of these CUs is that they are proposed by the candidates to the community and then they need to be approved by the MakerDAO Governance through a decentralized governance system.

👩‍🔧👨‍🔧So, the "employees" of Maker actually are independent groups that has passed a voting cycle in which everybody can participate through MKR as a governance token. Here you can read our thread about how governance works at Maker as well:


🙋‍♂️🙋‍♀️We, the Growth Core Unit, were conceived as a proposal on the Maker forum, and after a governance approval, officially we converted this idea into the MakerDAO Growth Core Unit. Here you can read how @nad8802 introduced us to the community: forum.makerdao.com/t/mip39c2-sp4-…

👏Our CU aims to grow the available distribution channels for the Maker protocol by intelligently deploying the human and financial capital given by the DAO. And like us, there are CUs of Risk, Engineering, Oracles, Real World Finance, GovAlpha and Content Production teams

From the team members to the budget, all related to CUs must be approved by Maker Governance. Here you can see two links to check these votes:

1️⃣ vote.makerdao.com/executive/temp…

2️⃣ vote.makerdao.com/executive/temp…

🌎In fact, ALL changes and implementations to the Maker organization must pass a governance system. From new Maker protocol features, to the new Maker team members.

✊"The global Maker community is now responsible for every aspect of the Maker Protocol and the DAO" was how Rune described that important fact. His last words in this exciting text, write the future of organizations:
🔮"Thank you again, everyone, for your support and passion. After a short break to enjoy the summer with my family, I look forward to once again being an independent community member and Maker Forum participant.

@MakerDAO has come full circle and is in good hands".

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More from @MakerGrowth

19 Jul
1/16 Dai token bridge on @optimismPBC was launched! 🌉🚀 MakerDAO's Engineering Team and Optimism have been working very hard to bring scalability to Dai without losing Ethereum's essence! Here you can read a recap about the implications of this milestone: Image
2/16 Optimism Protocol, also known as Optimistic Ethereum (OE), is scaling protocol for Ethereum applications based on Layer 2 architecture 🌩️. OE is meant to look, feel and behave like Ethereum but cheaper and faster. Really cheaper and faster. 🧘 Image
3/16 In fact, according to the Optimism Gas Comparison calculator, a MakerDAO poolet ETH conversion might be 14.5x cheaper in OE. About execution time, it's as fast as an instant. 🔦 Image
Read 16 tweets

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