MakerDAO Core Contributors Resigning in Favor of New Project-Based Funding Framework

04/06/2023 05:51 • Crypto & Markets • 63 views

According to reports, five MakerDAO core contributors have stated that they will resign on April 30th. Previously, MakerDAO proposed that PECU’s DAI budget flow be discontinued by the end of April, with a smaller independent team executing the scope framework. PECU will work with community members to ensure a successful transition to the new project-based funding framework.

Multiple MakerDAO core contributors will resign on April 30th

MakerDAO, a decentralized autonomous organization (DAO) that manages the DAI stablecoin, is facing changes as five core contributors announced their resignations, effective April 30th. The changes are part of a shift to a new project-based funding framework, and the decision has generated discussion in the cryptocurrency community.

The Background of MakerDAO and PECU’s DAI Budget Flow

MakerDAO is a decentralized lending platform that allows users to generate DAI, a cryptocurrency pegged to the U.S. dollar. DAI is backed by collateral holdings and governed by token holders who vote on changes to the protocol.
In December 2020, MakerDAO introduced a proposal to discontinue PECU’s DAI budget flow by the end of April 2021. PECU, a group created to support development of MakerDAO’s emergency shutdown module, faced opposition due to its lack of transparency and unclear goals.

The Shift to a New Funding Framework

As part of the proposal, a new funding model was introduced to replace PECU’s DAI budget flow. The new framework aims to fund specific projects requested by the MakerDAO Governance community, with a small, independent team tasked with executing the project.
The new funding model has met with support among MakerDAO Governance community members, who see it as a more transparent and democratic way to manage funds. However, the introduction of the new funding model also led to the resignation of five core contributors to the project.

The Five Resignations Generating Discussion

The resignation of the five core contributors has attracted attention among the cryptocurrency community. While the project-based model has been generally well-received, the resignations have raised concerns about the future of MakerDAO’s stability.
In a statement, the contributors cited concerns about the new funding model’s potential for attracting bad actors and argued that the project-based funding could make it difficult to achieve long-term goals. Despite these concerns, they expressed their support for the MakerDAO community and their hope that the project would continue to thrive under the new framework.

Conclusion

MakerDAO’s shift to a new project-based funding framework has generated discussion and debate among the cryptocurrency community. While the new model has faced some opposition, it has broad support within the MakerDAO Governance community. The resignations of five core contributors have raised concerns about the project’s future, but supporters remain optimistic that the organization will continue to thrive.

FAQs

1. What is MakerDAO?
MakerDAO is a decentralized autonomous organization that manages the DAI stablecoin.
2. What is the new project-based funding framework?
The new funding model for MakerDAO aims to fund specific projects requested by the MakerDAO Governance community, with a small, independent team tasked with executing the project.
3. Why have five core contributors resigned from MakerDAO?
The contributors cite concerns about the new funding model’s potential for attracting bad actors and argue that the project-based funding could make it difficult to achieve long-term goals.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/13455.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.