Makerdao Co-founder Eyes Solana Fork For New Chain | Defi News

What is MakerDAO and Why Does This News Matter?

MakerDAO is one of the oldest and most respected projects in decentralized finance (DeFi). It's the organization behind DAI, a popular stablecoin designed to hold a steady value of one U.S. dollar. For its entire history, MakerDAO has been built on the Ethereum blockchain.

This deep connection to Ethereum is why this proposal is so significant. Suggesting a move to a new blockchain built on a competitor's code is a major strategic pivot that could reshape its future and influence the entire DeFi industry.

The "Endgame" Plan: Why the MakerDAO Co-founder Proposes Building New Chain on Solana Codebase Fork

This proposal is part of a larger, long-term strategy for MakerDAO called the "Endgame." The ultimate goal of Endgame is to make the protocol more resilient, decentralized, and scalable to handle mainstream adoption. A key part of this vision is the creation of a dedicated, native blockchain for the Maker ecosystem, which Christensen refers to as NewChain.

The idea is that having its own chain would allow MakerDAO to have more control over its environment, ensuring stability and security for the long term without being subject to the congestion or governance of another network.

Why Choose Solana's Codebase?

While MakerDAO could have built its new chain from scratch or used other frameworks, Christensen laid out several compelling reasons for choosing to fork Solana's code. A "fork" simply means taking the existing open-source code of Solana and adapting it for MakerDAO's specific needs.

Here are the key advantages he highlighted:

Technical Quality: Christensen praised the Solana codebase for being highly efficient and well-engineered, making it a robust foundation for NewChain.

Strong Ecosystem: Solana has a large and active community of developers. This means there's a deep pool of talent available to help build and maintain the new chain.

Proven Resilience: Although Solana has faced challenges with network outages, it has always recovered. This track record demonstrates the codebase's resilience and the ability of its community to solve critical problems.

Easy to Fork: The codebase is readily available and has been forked by other projects before, making the technical process more straightforward.

What About Ethereum or Other Options?

Many were surprised that the proposal didn't favor building on top of Ethereum, perhaps as a Layer-2 network. Christensen explained that while Ethereum is secure, building a completely independent chain was preferable for the long-term sovereignty of the protocol.

He also considered other options like the Cosmos ecosystem but argued that Solana's single, highly optimized codebase was a more efficient starting point than the more modular approach of Cosmos for MakerDAO's specific goals.

What Happens Next?

It's crucial to remember that this is currently just a proposal. MakerDAO is a decentralized autonomous organization, which means its community of MKR token holders governs it. The proposal will be debated and eventually put to a vote.

This process will take time, and the actual development and migration to a NewChain would be a multi-year effort. However, the proposal itself marks a pivotal moment in the protocol's history.

Conclusion: A New Chapter for DeFi?

The proposal from MakerDAO's co-founder to use Solana's codebase is more than just a technical decision; it's a strategic statement about the future of DeFi. It shows that established projects are willing to look beyond their original platforms to find the best technology for long-term growth and resilience.

Whether the community approves it or not, this conversation is pushing the boundaries of what's possible in the world of decentralized finance.

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The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.