MakerDAO (MKR) members overwhelmingly supported founder Rune Christensen’s “Endgame Plan” by a margin of 80%. The lack of decentralization in the voting process was criticized by some observers.
They claimed Christensen swayed 63% of the votes in favor of his proposition.
Christensen released the Endgame Plan in May, a roadmap outlining his strategy for reforming MakerDAO to achieve decentralization over the next ten years.
Since the breakup of the Maker Foundation in 2021, the founder has spoken out against Maker’s governance style.
He cited community members’ lack of interest in voting on crucial protocol proposals as a major factor limiting Maker’s capacity to manage tough financial deals.
As a result, he recommended unbundling Maker into numerous self-sustaining units known as “MetaDAOs.”
Each MetaDAO would have its own token, which would be administered by a committee distinct from Maker’s broad-based governance mechanism. It implies increased decentralization.
The new structure is intended to mitigate the impact of conflicting interests within the MakerDAO community.
Christensen proposed a series of ideas to the community earlier in October. The voting period ended on October 24. Members approved a plan to transfer $1.6 billion in USD Coin, or USDC, to Coinbase Prime in order to receive a 1.5% annual dividend.