Rune Christensen was called out for adding USDe as collateral for MakerDAO.<\/p>\n
Imagine a world where the co-founder of one of the largest decentralized autonomous organizations says it\u2019s actually not that great to have community members participate in the governance of said DAO.<\/p>\n
Imagine no longer.<\/p>\n
MakerDAO founder Rune Christensen said, \u201chaving \u2018rando\u2019s\u2019 making decisions,\u201d is as unpredictable as having a centralized group control governance. He added that, \u201cit\u2019s not important who or how a decision is made,\u201d but \u201cwhat decision is made.\u201d<\/p>\n
Christensen made the statement in an X Space hosted by Ethena Labs, responding to Marc Zeller, founder of the Aavechan Initiative. Zeller had confronted Christensen by saying, \u201cthere\u2019s no discussion anymore,\u201d referring to MakerDAO governance.<\/p>\n
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Zeller said it’s concerning that the upper echelons of the DAO are making all the decisions, which in turn, \u201cmake it hard to predict.\u201d<\/p>\n
Christensen did not immediately respond to a request for comment from The Defiant.<\/p>\n
Christensen, Zeller and others were on a panel discussing MakerDAO\u2019s decision to add Ethena\u2019s USDe as collateral for DAI. The move pushed Zeller to propose that Aave should drop DAI<\/a> as collateral on its lending protocol \u2013after discussion, the Aave community decided to reduce but not eliminate DAI collateral.<\/p>\n Nostra Finance also announced on April 2 it would be suspending new DAI lending on its platform, citing concerns that MakerDAO is taking on excessive risk with USDe.<\/p>\n Ethena\u2019s USDe maintains its $1 peg by holding staked ETH issued by Lido, and taking short positions to hedge against the volatility of that stETH. It passes on the yield of stETH and short positions on to holders and uses centralized custodians and centralized exchanges for its operation.<\/p>\n Christensen\u2019s comments open the doors for questions, considering the nature of DAOs.<\/p>\n <\/p>\nWhat\u2019s a DAO For Then?<\/strong><\/h2>\n
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