The Maker Foundation announced that it has successfully transferred the control of MKR tokens to the Maker governance community. According to the foundation, the MKR token contract is now in full control of MKR holders, bringing it closer to complete system decentralization.
Maker Completes MKR Token Control Transfer
The Maker Foundation, a non-profit organization tasked with running the Maker blockchain, has announced that it has completed the transfer of MKR token control to the Maker governance community.
According to the foundation, the MKR token contract is now 100% in control of MKR holders, bringing the MakerDAO ecosystem one step closer to completely decentralized governance.
“Today’s news is momentous. By completing its commitment to transfer the MKR token contract to MKR holders, the Maker Foundation continues to move toward a completely self-sustaining MakerDAO,” said Rune Christensen, CEO of the Maker Foundation.
The process took just over three months to complete, as the first step was initiated on Jan. 10 when the “MkrAuthority” contract was deployed on the Ethereum mainnet. The final step of the governance transfer was completed on Mar. 24, when the…
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Author: Priyeshu Garg