Did the makerdao foundation cover black thursday?

Question

Bancor Protocol

alphavalion

Did the makerdao foundation cover black thursday?

#bancor #blockchain #cryptocurrency #english

0

18.07.2022

4 ответов

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alphavalion Автор вопроса

MB
No, but they dissolved their foundation and gave a...

The definition of a non for profit foundation: a not-for-profit organization (NFPO) is one that does not earn profit for its owners. All money earned through pursuing business activities or through donations goes right back into running the organization. and no, makerdao did not dissolve their foundation because of black Thursday.

0

19.07.2022

alphavalion Автор вопроса

alphavalion
The definition of a non for profit foundation: a ...

https://blog.makerdao.com/makerdao-has-come-full-circle/

0

19.07.2022

MB

alphavalion
The definition of a non for profit foundation: a ...

Yeah, I didn't they did it for Black Thursday. I said they did it for a different set of reasons, dissolved their foundation, and transferred all of its money into governance control.

0

19.07.2022

MB · Accepted Answer

No, but they dissolved their foundation and gave all their money (transparency about amount of $$, too) into the hands of governance to use as they best see fit. We can't see how much money Bancor foundation has, if it's being used effectively or if it's a nepotistic slushfund from which to draw lifetime salaries irrespective of any other variables. https://thedefiant.io/maker-foundation-transfers-funds-to-dao-in-decentralization-push/ The Maker Foundation is sending 84K MKR tokens, worth $512M at the time of writing, to its DAO’s Treasury. The move is a major step towards further decentralizing the protocol. MKR holders will now decide via governance how the 84K tokens will be spent. Tokenholder governance will also oversee employees who were previously supported by the Maker Foundation. The Foundation is getting dissolved, various core units are starting their business thanks to the support of the Maker Governance, and we are seeing how this has an incredibly positive impact on the community, making it stronger.”

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Did the makerdao foundation cover black thursday?

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