Maker Foundation Returns Development Fund Tokens to MakerDAO

By Sam Grant10 days ago

The Maker Foundation has given back part of its Development Fund to the MakerDAO as it prepares for dissolution

The Maker Foundation has sent back a total of 84,000 MKR tokens to MakerDAO and will now let the protocol move become fully decentralised. The tokens are estimated to be worth around $480 million and will be left in the hands of the community. The Foundations role from the get-go was to build the DAO protocol and make it self-governing before exiting.

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It believes the bulk of this work is done and what remains is dissolution. The returned tokens were part of its Development Fund that funded its work. This fund no longer serves any purpose now as the protocol has achieved most of its initial objectives. The foundation, which has been in charge of the protocol, is set to dissolve before the end of the year.

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