Vitalik Buterin, the co-founder of Ethereum, recently sold his remaining stake in MakerDAO, amounting to approximately $580,000.

This decision came in the wake of MakerDAO’s co-founder and CEO, Rune Christensen, expressing admiration for the Solana blockchain’s codebase and contemplating a potential shift of MakerDAO to a new blockchain called NewChain, derived from Solana.

Buterin’s sale of his MakerDAO tokens took place on the CoW protocol, where he successfully offloaded his entire holding of 500 MakerDAO tokens. In return, he received 353 ETH, translating to the aforementioned value of around $580,000, according to blockchain data.

Rune Christensen’s Vision for MakerDAO’s Future

The driving force behind this move was Rune Christensen’s extensive blog post, where he outlined his long-term aspirations to re-implement MakerDAO on a blockchain that could be built using Solana’s codebase, aptly named NewChain.

This transition from the current Solidity-based Ethereum infrastructure to the Rust-based Solana codebase represents a significant shift in the project’s trajectory.

In his blog post, Christensen highlighted three key reasons for his belief in Solana’s codebase as the foundation for NewChain:

  1. Technical Quality and Optimization: The Solana codebase boasts technical excellence and optimization, making it highly promising for future MakerDAO endeavors.
  2. Resilience: Christensen pointed out the Solana ecosystem’s resilience following the ‘FTX fiasco,’ demonstrating its robustness in the face of challenges.
  3. Historical Success: He also cited successful forks that have emerged from Solana, such as the Pyth network.

Christensen’s visionary approach extends to MakerDAO’s potential role as a secure bridge connecting the Ethereum and Solana ecosystems. Such inter-chain connectivity could significantly enhance the network effect within the broader multi-chain economy.

While Solana is a prominent candidate, Christensen acknowledged Cosmos as another significant contender for NewChain’s codebase.

This recognition underscores the complexity of the decision-making process and the weighty considerations involved in selecting the most suitable foundation for MakerDAO’s future development.