Maker Foundation returns dev fund to DAO amid path to decentralization
The Maker Foundation has returned 84,000 MKR to the project’s DAO in a major milestone for the protocol’s road to decentralization. The MakerDAO Foundation has returned 84,000 MKR tokens from its development fund to MakerDAO’s governance module, marking a milestone in the project’s path to decentralization. In a May 3 blog post, the foundation notes that “no conditions or expectations” have been placed on MakerDAO regarding the returned tokens, with Maker Governance now having complete control over the tokens.
The announcement states that with the return of the development and the completion of recent technical contributions to Maker’s liquidation engine and its DAO’s core unit framework, the foundation will now focus on working toward its own dissolution to further decentralize the protocol: “The Foundation now turns inward to focus solely on its dissolution.“
To manage and finance its transition to obsolescence, the Maker Foundation has retained less than one percent of MKR’s supply. The foundation is aiming to have dissolved by December 31, 2021. The foundation will continue publishing progress reports until the dissolution is completed.
On the same day, MakerDAO announced the launch of a governance poll to determine whether to expand the vaults subject to its Liquidations 2.0 Framework. If approved, the updated liquidations engine will be used for Maker’s Uniswap, 0x, Basic Attention Token, Loopring, Compound, Balancer, Kyber Network, Decentraland, Aave, and renBTC vaults. If the governance poll is passed, an executive vote is expected to complete the upgrades within 30 days of voting.
The updated mechanism seeks to bring greater predictability and stability to liquidations executed by the protocol in a move to safeguard against the aggressive cascading liquidations that resulted in MakerDAO becoming undercollateralized amid the March 2020 “Black Thursday” crash. The project moved to decentralize governance in the weeks following the black swan event. MakerDAO currently ranks as the third-largest DeFi protocol behind Aave and PancakeSwap with $9.75 billion in total value locked, according to DeFi Llama.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 88.4% | 16 | $41 934.50 | 6.06% | 13.22% | $820 272 161 067 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 83.6% | 27 | $2 261.03 | 4.33% | 11.87% | $271 850 644 232 |  |
|
| 3 |  USDT |
Tether predictions | 92.8% | 1 | $1.000126 | 0% | -0.04% | $89 658 880 892 |  |
|
| 4 |  BNB |
Binance Coin predictions | 83.6% | 26 | $234.74 | 2.52% | 3.29% | $35 610 364 421 |  |
|
| 5 |  XRP |
XRP predictions | 82.4% | 30 | $0.639886 | 1.65% | 6.05% | $34 482 517 134 |  |
|
| 6 |  SOL |
Solana predictions | 70% | 67 | $63.09 | -0.90% | 14.85% | $26 772 799 960 |  |
|
| 7 |  USDC |
USD Coin predictions | 92.4% | 1 | $1.000014 | 0.02% | 0.01% | $24 499 442 991 |  |
|
| 8 |  ADA |
Cardano predictions | 80% | 28 | $0.410289 | 3.76% | 7.89% | $14 487 244 627 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 76.8% | 39 | $0.089766 | 5.46% | 14.14% | $12 755 206 974 |  |
|
| 10 |  STETH |
Lido stETH predictions | 92.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 11 |  TRX |
TRON predictions | 86.4% | 19 | $0.105122 | 1.74% | 0.52% | $9 304 941 414 |  |
|
| 12 |  WTRX |
Wrapped TRON predictions | 86.4% | 21 | $0.104839 | 1.45% | 0.19% | $9 279 858 144 |  |
|
| 13 |  LINK |
Chainlink predictions | 77.2% | 43 | $16.03 | -0.18% | 12.38% | $8 928 896 831 |  |
|
| 14 |  TON |
Toncoin predictions | 84.4% | 20 | $2.45 | 1.07% | 2.41% | $8 420 202 815 |  |
|
| 15 |  AVAX |
Avalanche predictions | 60.4% | 87 | $22.91 | 3.73% | 12.37% | $8 365 176 654 |  |
