{"id":83957,"date":"2023-09-04T16:39:00","date_gmt":"2023-09-04T13:39:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83957"},"modified":"2025-09-12T14:23:15","modified_gmt":"2025-09-12T11:23:15","slug":"vitalik-buterin-sold-makerdao-tokens-for-about-580000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/vitalik-buterin-sold-makerdao-tokens-for-about-580000\/","title":{"rendered":"Vitalik Buterin sold MakerDAO tokens for about $580,000"},"content":{"rendered":"

Ethereum co-founder Vitalik Buterin sold<\/a> 500 MakerDAO<\/a> (MKR) tokens for 353 ETH (about $579,000 at the time of writing) after Rune Christensen, the project’s head, proposed launching the protocol on Solana.<\/p>\n

MakerDAO is the issuer of stablecoin<\/a> DAI. According to Christensen’s statement, the next phase of the organisation’s development will be the creation of its own blockchain, working under the working name NewChain.<\/p>\n

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Data: X<\/a>.<\/figcaption><\/figure>\n
\n

“This will make the ecosystem safer and more efficient. After some research, I concluded that the Solana codebase should be considered as the basis for NewChain,” he explained.<\/p>\n<\/blockquote>\n

A day after this statement, Buterin visited the Discord channel<\/a> of the competing stablecoin issuer Reflexer Finance. He offered several pointers on developing the project if \u2018MakerDAO torpedoes itself in odd directions\u2019.<\/p>\n

Reflexer allows creating stablecoins (RAI) using only Ethereum as collateral. The coin’s price is not pegged to a specific currency, but depends on demand for the asset itself and the price of ETH.<\/p>\n

Buterin emphasised the importance of governance when adding the staking<\/a> feature. He believes that ideally users should begin \u2018only from non-dominant services\u2019 \u2014 that is, all except Lido Finance<\/a>.<\/p>\n

According to CoinGecko, during the night the price of Reflexer Ungovernance (FLX) rose by almost 70%, to $14.35. At the same time, MKR slipped slightly but quickly recovered to around $1,120.<\/p>\n

In May, MakerDAO unveiled a roadmap with a focus on artificial intelligence.<\/p>\n

In June the platform increased the amount of US Treasuries in its reserves from $500 million to $1.2 billion. The first step in this direction was taken in October 2022.<\/p>\n

Later, the issuer reduced the share of the stablecoin USDC in the total collateral backing for borrowings in DAI.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum co-founder Vitalik Buterin sold 500 MakerDAO (MKR) tokens for 353 ETH (~$579,000 at the time of writing) after Rune Christensen, the project’s head, proposed launching the protocol on Solana.<\/p>\n","protected":false},"author":1,"featured_media":83958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1100,200],"class_list":["post-83957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-makerdao","tag-vitalik-buterin"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83957"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83957\/revisions"}],"predecessor-version":[{"id":83959,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83957\/revisions\/83959"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83958"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}