{"id":456951,"date":"2022-06-03T05:12:54","date_gmt":"2022-06-03T02:12:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/maker-founder-proposes-metadaos-and-synthetic-eth-in-endgame-plan\/"},"modified":"2022-06-03T05:12:54","modified_gmt":"2022-06-03T02:12:54","slug":"maker-founder-proposes-metadaos-and-synthetic-eth-in-endgame-plan","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/maker-founder-proposes-metadaos-and-synthetic-eth-in-endgame-plan\/","title":{"rendered":"# Maker founder proposes MetaDAOs and synthetic ETH in &#8216;Endgame Plan&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b594f6d1cc\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b594f6d1cc\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/maker-founder-proposes-metadaos-and-synthetic-eth-in-endgame-plan\/#%E2%80%9D_Maker_founder_proposes_MetaDAOs_and_synthetic_ETH_in_%E2%80%98Endgame_Plan_%E2%80%9C\" >&#8221; Maker founder proposes MetaDAOs and synthetic ETH in &#8216;Endgame Plan&#8217; &#8220;<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/maker-founder-proposes-metadaos-and-synthetic-eth-in-endgame-plan\/#Synthetic_Ether\" >Synthetic Ether<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Maker_founder_proposes_MetaDAOs_and_synthetic_ETH_in_%E2%80%98Endgame_Plan_%E2%80%9C\"><\/span>&#8221; Maker founder proposes MetaDAOs and synthetic ETH in &#8216;Endgame Plan&#8217; &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>The co-founder of MakerDAO Rune Christensen has issued a new monumental proposal to push the project into its final form called The End<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> Plan.\u00a0<\/p>\n<p>Across 3,000 words including 35 detailed infographics, Christensen explained that the current model of governance at Maker creates a deadlock which makes it difficult for the protocol to effectively process \u201ccomplicated real world financial deals\u201d and which compromises its competitiveness with financial institutions.<\/p>\n<p>Central to Christensen\u2019s May 31 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forum.makerdao.com\/t\/the-endgame-plan-parts-1-2\/15456\">plan<\/a> is the formation of MetaDAOs designed to tackle specific governance issues within the Maker ecosystem and alleviate congestion on the \u201cslow and single threaded decision making process\u201d that exists now. Each MetaDAO can be thought of like a subsection of MakerDAO, which would issue its own token and be governed by Maker participants interested in its particular goal.<\/p>\n<p>Maker (MAKER) is a smart contract lending platform that issues DAI (DAI) stablecoins using Ether (ETH) as collateral. The Maker Foundation previously held responsibility for protocol governance, but the decentralized autonomous organization (DAO) took over last year.<\/p>\n<p>Although he feels that Maker\u2019s complexity gives it the ability to pounce on the best opportunities, the use of MetaDAOs would help the protocol focus its abilities into smaller and more manageable parts. He wrote that with de-risked MetaDAOs, \u201cthe Maker Core could become a lot simpler than it is today, creating a best of both worlds situation.\u201d<\/p>\n<blockquote><p>\u201cMetaDAOs also allow Maker to overcome the single threaded nature of the current governance process, and let many separate MetaDAOs prioritize and execute in parallel with almost unlimited potential for scale and autonomy.\u201d<\/p><\/blockquote>\n<p>The first MetaDAO Christensen would see formed is M0, a CreatorDAO to seek out opportunities for profit outside of Maker and to take on some of Maker\u2019s excess complexity. M0 would issue MZR governance tokens through a fair launch via yield farming.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/078bcdd1-76c4-40a0-8534-2ea28851247d.jpg\"><figcaption style=\"text-align: center;\">The highlights of The Endgame Plan<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Synthetic_Ether\"><\/span>Synthetic Ether<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Christensen also proposes Maker launches a synthetic ETH token called MATH to take advantage of the Merge and generate more revenue with the lowest possible initial cost.<\/p>\n<blockquote><p>\u201cThe lowest hanging fruit of the Endgame Plan Launch is the acceleration of the existing roadmap milestone to quickly launch a simplified version of Synthetic ETH.\u201d<\/p><\/blockquote>\n<p>MATH fees could initially be set to 0% in order to incentivize its use, but eventually it could generate revenue for the protocol as synths have done for THORChain.<\/p>\n<p>The focus in the plan on revenue-generating products may be due to the fact Maker is running in the red. Core developer at Yearn Finance (YFI) Banteg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bantg\/status\/1532462833870462979\">tweeted<\/a> on Friday that \u201cMakerDAO is in war mode again,\u201d and shared an image from the proposal showing it was no longer profitable. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Rune&#8217;s back from the vision quest. MakerDAO is in war mode again.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/XmHeWv0DGO\">https:\/\/t.co\/XmHeWv0DGO<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/fCHhoKX38M\">pic.twitter.com\/fCHhoKX38M<\/a><\/p>\n<p>\u2014 banteg (@bantg) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bantg\/status\/1532462833870462979?ref_src=twsrc%5Etfw\">June 2, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The crypto community has had mixed reactions to the new proposal. On June 3 Rari Capital CEO Jay Bhavnani <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JAI_BHAVNANI\/status\/1532442170535186432\">called<\/a> the proposal \u201cunnecessarily complex and over-optimizing for many problems.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>These are the least &#8216;stable&#8217; stablecoins not named TerraUSD<\/em><\/strong><\/p>\n<p>However Compound Finance (COMP) founder Robert Leshner <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rleshner\/status\/1532447557426860032\">tweeted<\/a> on June 3 that he was pumped, saying the plan was \u201cComplex, but in some sense, &#8216;back to the basics&#8217; of what Maker was intended to make: new synthetic assets.\u201d As of now, only Synthetic ETH has been proposed by Christensen.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I&#8217;m so pumped for the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MakerDAO?ref_src=twsrc%5Etfw\">@MakerDAO<\/a> Endgame Plan by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/RuneKek?ref_src=twsrc%5Etfw\">@RuneKek<\/a> <\/p>\n<p>Complex, but in some sense, &#8220;back to the basics&#8221; of what Maker was intended to make; new synthetic assets.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/d57xO1L11t\">https:\/\/t.co\/d57xO1L11t<\/a><\/p>\n<p>\u2014 Robert Leshner (@rleshner) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rleshner\/status\/1532447557426860032?ref_src=twsrc%5Etfw\">June 2, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/maker-founder-proposes-metadaos-and-synthetic-eth-in-endgame-plan\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Maker founder proposes MetaDAOs and synthetic ETH in &#8216;Endgame Plan&#8217; &#8220; The co-founder of MakerDAO Rune Christensen has issued a new monumental proposal to push the project into its final form called The Endgame Plan.\u00a0 Across 3,000 words including 35 detailed infographics, Christensen explained that the current model of governance at Maker creates a&#8230;<\/p>\n","protected":false},"author":1,"featured_media":456952,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvYzhkZjA0MGQtZmRhNC00NjVjLWJkNTEtN2ZlZGMxYTIzYzk5LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74868,77655,76700,75493,117],"class_list":["post-456951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-defi","tag-maker","tag-makerdao","tag-stablecoin","tag-business"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/456951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=456951"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/456951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/456952"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=456951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=456951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=456951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}