Everything changes for MakerDAO. MakerDAO is one of the first protocols Challenge to have emerged. This is the origin of the stablecoin DAI, which can be issued by collateralizing cryptocurrencies. For several months, the protocol has been planning a major update called EndGame. So much so that MakerDAO is considering setting sail on Solana.
End Game: A major overhaul for MakerDAO
A little over a year ago, in August 2022, Christensen Rune the founder of MakerDAO unveiled “EndGame”. This is a series of updates aimed at fundamentally transforming the MakerDAO protocol.
In practice, this update aims to improve the resilience of the protocol at different levels. Thus, EndGame aims to improve decentralization of the protocol and the to make independent in the face of external hazards that could impact it, such as a change in regulation.
“This allows Maker to deliver on its promise to create an unbiased, trusted global currency as the foundational infrastructure for the crypto ecosystem and the global economy, regardless of how external factors may attempt to influence it. »
Several developments have already been presented to the community in the form of a ratification survey, in order to sound out its opinion on future developments.
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An update in 5 phases
Like Rome, EndGame won’t happen overnight. Indeed, the evolution of the network has been planned in 5 distinct phases:
- Bootstrapping phase: This phase initiates the transition to Endgame by creating the first MetaDAOs;
- Transition Phase: MetaDAOs become operational, supporting specific functions while working closely with Maker Core;
- Establishment Phase: The system reaches a balance where most operations are handled by MetaDAOs, while Maker Core focuses on decentralized governance;
- Maturity phase: The system is fully operational and self-sufficient, with strong decentralized governance and thriving MetaDAOs.
- Endgame State phase: This is the end state where the Maker protocol is inherently resilient, with effective decentralized governance and an ecosystem of empowered players.
MakerDAO attracted to the mermaids of Solana
On Friday, September 1, Rune Christensen unveiled his plans for the fifth and final phase of EndGame. In practice, this phase consists of a complete implementation of MakerDAO on a new autonomous blockchain called “NewChain”.
“The most important reason why NewChain is needed is that it will allow the ecosystem to use hard forks to recover from the most severe form of governance attacks or technical failures. NewChain also allows the system to manage the protocol’s 8 years of technical debt, and means that all protocol components can be rebuilt on purpose for their exact role in the final and permanent technical design of Endgame. »
While until now MakerDAO has been loyal to Ethereum, it could well migrate to a new codebase.
Indeed, in his publication, Christensen Reveals Serious Consideration of Solana Source Code for MakerDAO.
Three arguments are used to highlight Solana:
- The quality of the Solana source code;
- Solana has already proven her resilience by surviving the collapse of FTX;
- There is already source code for Appchains on Solana.
No divorce with Ethereum so far
Nevertheless, MakerDAO will not leave Ethereum entirely. Thus, the goal is to build a bridge between NewChain and Ethereum
“NewChain will primarily contain the Maker Protocol backend and SubDAOs – all user-facing products and systems will be unaffected and will remain on Ethereum, L2s or other major blockchains, and will be connected to NewChain through secure advanced bridges by the Maker Protocol. »
Besides Solana, Rune Christensen also addressed the case of Cosmos, Aptos and Sui, although the last two are less suitable than Solana or Cosmos.
A surprising choice to say the least, especially in the era of Layer 2. Indeed, for several months Ethereum’s second layer solutions have been at the heart of attention. Some projects such as Celo, which have been L1s so far, are even considering becoming L2s of Ethereum.
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