Maker Foundation Dissolves as DeFi Protocol Goes Fully Decentralized

The Maker Foundation is shutting down, paving the way for the DeFi protocol to become fully decentralized. CEO Rune Christensen stated that the foundation will dissolve within the next few months, transferring all responsibilities to MakerDAO.

In a blog post, Christensen reflected on the project's journey, saying it had come 'full circle.' He noted that the Maker Protocol began as a DAO created by himself and a few developers, then evolved into a foundation tasked with further development, before returning to its decentralized roots.

The change means that the future of Maker will be determined by its community members. Christensen intends to take a break, but plans to participate in the Maker Forum as an independent member.

MakerDAO's governance token is currently worth $2,391.17, up more than 12% in the past 24 hours. The protocol has over $5.8 billion locked in it, making it the fifth-largest overall.