Ethereum co-founder and developer, Vitalik Buterin, has completed the sale of his remaining 500 MKR tokens from MakerDAO, receiving 353 ETH in exchange, valued at approximately $580,000. The transaction occurred on the CoW protocol, a meta-decentralized exchange aggregator known for executing batch swaps across various decentralized exchange platforms. This move coincides with MakerDAO’s announcement of its ‘NewChain’ for its Endgame plan, which involves launching a native blockchain, potentially based on Solana’s codebase, sparking discussions and rivalry within the crypto community.
Vitalik Buterin’s Token Sale
Ethereum co-founder and prominent developer, Vitalik Buterin, has recently concluded a significant transaction involving the sale of 500 MKR tokens from MakerDAO. In this exchange, Buterin received 353 ethereum (ETH), equating to an approximate value of $580,000.
Details of the Transaction
The transaction was executed on the CoW protocol, a meta-decentralized exchange aggregator renowned for its ability to conduct batch swaps across a multitude of decentralized exchange platforms. This approach enables more efficient and cost-effective trading for users.
A Dormant Asset Comes to Life
This sale comes after a period of dormancy lasting two years, during which Vitalik Buterin held these MKR tokens. While the exact reasons for the sale remain undisclosed, it signifies a significant move in the crypto space.
MakerDAO’s ‘NewChain’ Announcement
Interestingly, this token sale aligns with an announcement made by Rune Christensen, the co-founder and CEO of MakerDAO. Christensen unveiled plans for the final phase of the company’s Endgame strategy, which involves launching a native blockchain referred to as ‘NewChain.’
Solana’s Influence on ‘NewChain’
In his blog post, Rune Christensen indicated that the NewChain project would consider leveraging the codebase of Solana, a blockchain platform known for its high-performance capabilities and growing ecosystem.
Community Response and Rivalry
The announcement of MakerDAO’s NewChain project, combined with Vitalik Buterin’s MKR token sale, has reignited discussions and rivalry within the crypto community. Some members of the Ethereum and Solana communities have expressed their views and reservations regarding MakerDAO’s decision.
Conclusion
Vitalik Buterin’s sale of 500 MKR tokens represents a noteworthy development in the cryptocurrency landscape. As MakerDAO proceeds with its plans for ‘NewChain,’ the crypto community will continue to monitor the impact of these decisions on the broader blockchain and decentralized finance (DeFi) ecosystem.
