- MakerDAO wants to become an independent blockchain. So, they want to do this using Solana Codebase.
- The Ethereum co-founder sold 500 MKR tokens in exchange for 350 ETH.
One of the things in the crypto industry is that projects are always hungry to reach new milestones. Apparently, the same thing applies to MakerDAO, who wants to become an independent blockchain. But it coincided with the Ethereum co-founder selling 500 MKR tokens in exchange for 350 ETH.
Ethereum Co-founder Withdraws from MakerDAO
- MakerDAO is working on an ambitious project called “NewChain.” So, according to the project developers, they want to transform MakerDAO into a newly independent protocol. To achieve their new aim, they want to use the Solana codebase as the fundamental framework. Apparently, this brought up a massive reaction from the Ethereum co-founder, Vitalik Buterin. Vitalik Buterin sold a substantial amount of his Maker shares. This was quite huge from the Ethereum co-founder. In fact, it was also unexpected from him. There was a sale of 500 MKR tokens in exchange for 350 ETH. Apparently, the Ethereum co-founder made this sale using a platform named CoWswap.
- Going into more details, the new transaction will be the first time Buterin is making an MKR sale in two years. Apparently, after making the current sale, the Ethereum co-founder transferred the proceeds to a wallet with the first and last letter 0x3F…2aEB. Inside this address, Buterin has quite some substantial holdings. So, this address holds assets worth $1.09 million, including 415.76 ETH. Like many other tokens, the price of this token received massive effects from the sell-off from Buterin. Apparently, the price reduced significantly after the sale from the Ethereum co-founder.
After the Ethereum Co-founder Sale, MakerDAO Focused on New Project
- Rune Christensen, co-founder of MakerDAO, says his crypto project focuses on their new objectives. Apparently, they want to create an independent blockchain for the project. They plan to do this using “NewChain.” This NewChain is a critical component of the comprehensive upgrade called “Endgame.” So, this Endgame project is a crypto project that spans for a period of 3 years.
- With this new plan, it will help the complete reimplementation of the Maker protocol in a new and independent blockchain ecosystem. Furthermore, the co-founder of MakerDAO is proposing the usage of Solana Codebase for this. There are speculations that this made Vitalik Buterin sell off some of his MKR token holdings.
- The new plan from MakerDAO signifies a lot of things for the protocol. Apparently, the first thing is that they are moving away from the Ethereum network. They already said they want to break free from dependence. Secondly, it shows MakerDAO’s commitment to exploring alternative blockchain solutions.
Conclusion
Ethereum co-founder recently made a sell-off of many MakerDAO tokens. Apparently, this came after the project made some prominent announcements. One of them is that they will be moving away from the Ethereum network. They want to become an independent blockchain. So, they plan to achieve this objective using Solana Codebase. Nevertheless, it made Vitalik Buterin sell off 500 MKR tokens in exchange for 350 ETH.
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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company
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