Media: the power struggle in MakerDao led to the departure of top managers

Founder MakerDao and CEO MakerDAO Ecosystem Growth Foundation (MEGF) Roon Christensen attempted to usurp power and impose his vision for the further development of the project to the detriment of decentralization, reports The Block , citing informed sources.

So, some time ago, an opposition faction called “Purple Tablet” [chat name in Signal messenger] was formed in the project, headed by former business development director Ashley Sharp, who plans to sue Maker and recover $ 1 million. Against the background of the conflict with Christensen, the project also left Andy Milenius CTO.

The confrontation was initiated by the decision of the current head of the Maker to establish total control over the development fund at $ 200 million, which was previously supervised by several parties, each of whom had a unique access key, without which the others could not use the funds.

At the same time, CoinDesk had a letter signed by lawyer Andrew Pullinger from Campbells in the Cayman Islands, claiming that five of the nine members of the board of directors were pressured by Christensen, who demanded their resignation. Nevertheless, it remains unclear whether he has achieved his goal.

Leaked Letter Exposes Infig … by on Scribd

The Block sources claim that MEGF has already acquired a broker-dealer and intends to launch a commercial division in the format of an alternative trading system (ATS).

Note that MEGF controls 30% of all MKR tokens, and the total market capitalization of MKR and DAI at present reaches $ 660 million.

MakerDAO is a Ethereum blockchain-based smart contract platform. The task of a project built on the principle of a Decentralized Autonomous Organization (DAO) is to create stability in the world of decentralized things. This stability is implemented through the DAI – ERC-20 standard token, which allows its use in all the most popular Ethereum wallets (Metamask, Mist, MEW, etc.).

For more information about the mechanism of MakerDAO can be found in the exclusive BlockchainJournal.

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