Vitalik Buterin, has unloaded his remaining stash of MakerDAO holdings, as indicated by blockchain data from Etherscan, shared by Lookonchain. This action involved the sale of 500 MKR tokens that Buterin had kept for the last few years.
Remarkably, this transaction was carried out via the CoW Protocol, resulting in a sum of 353 ETH, which is approximately $580,000 based on current exchange rates. Initially, Buterin entered the realm of MakerDAO in April 2018 when he purchased 1071 MKR tokens at a price of $905 per token.
His recent divestment signifies a profit margin of approximately 27%. It’s important to highlight that Buterin’s previous involvement with his MKR tokens occurred in April 2021, when he generously donated 100 tokens to support India’s COVID-19 relief efforts.
This development follows a blog entry by Rune Christensen, the co-founder and CEO of MakerDAO, published on September 1st. Categorically, Christensen outlined ambitious plans for a new project iteration on an alternative blockchain, tentatively named NewChain.
MakerDAO Contemplates Transition to Solana, NewChain Emerges as a Bridge in Blockchain Landscape
Notably, Christensen hinted at MakerDAO’s potential move to Solana (SOL), a significant shift away from its Ethereum roots. He elaborated on three key reasons driving this possible transition. First, he praised the technical prowess and advancements in the Solana codebase.
Second, he highlighted Solana’s ability to withstand challenges, including the FTX incident. Lastly, he mentioned the achievements of past Solana forks, like the Pyth Network, which utilizes a modified Solana version as its backend.
Christensen envisions a future where NewChain serves as a secure bridge between Ethereum and Solana. Importantly, he hasn’t excluded the possibility of exploring alternative options. He mentioned Aptos, Sui, and Cosmos as potential choices. In the case of Cosmos, he emphasized its sizable and skilled developer community and the presence of numerous independent developers as its key strengths.
Summarily, Vitalik Buterin has sold off his MakerDAO tokens. Rune Christensen has outlined the possibility of MakerDAO shifting to Solana or different blockchain alternatives. The future of NewChain seems promising in the ever-evolving domain of blockchain technology.
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