December 22, 2019 by Océane
After more than a year of talks with Dragonfly, Maker Foundation would have finally joined the venture capital firm as one of its strategic investors. With Paradigm, another venture capital company, Dragonfly comes into effect to invest the colossal sum of $ 27.5 million in the protocol MakerDAO.
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Hold decision-making power of the network
5.5% of the total outstanding chips MKR are now held by the couple Dragonfly – Paradigm. This percentage means that the two companies control currently 5.5% of the decision-making authority of the network MakerDAO.
Recall that the tokens MKR, are mainly intended for a strict framework, in particular in the system of governance of MakerDAO. It is a protocol which offers the crypto-holders the right to vote to participate in the decision-making process.
The most favourable time to attack Asia
In fact, this partnership comes within the efforts of the protocol to conquer the asian market, which has long been dominated by the USDT to Tether.
Rune Christensen, the CEO of the Maker Foundation, believes that an expansion in the region could lead to an increased adoption by the market of the products and services of decentralized financing (DeFi), especially that the transactions from this area are now in full throttle.
It spreads out the situation in these terms :
“At this time, there was this incredible media hype and this excitement about the Challenge that lies ahead, particularly in China, but also in South Korea … At one point, there was just a switch that switches and you see the massive movement towards the Bitcoin, Ethereum, I think that the same momentum could also occur in the Challenge and I think that is exactly what is going to happen now.”
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