Vitalik Buterin Sells MakerDAO Stake Amid Blockchain Transition Talks

Vitalik Buterin Sells MakerDAO Tokens

Vitalik Buterin, co-founder of Ethereum, has sold his remaining MakerDAO tokens. Onchain data reveals that Buterin offloaded 500 MKR tokens, held since 2021, through CoW Protocol. This transaction netted him 353 ETH, roughly valued at $580,000 based on current market rates. Buterin's initial investment in MakerDAO dates back to April 2018, when he purchased 1071 MKR tokens at $905 each, yielding a 27% gain from his recent sale. His last notable activity with MKR tokens was a donation of 100 tokens to India's Covid relief fund in 2021.

MakerDAO's Potential Blockchain Transition

The sale coincides with discussions about MakerDAO's future on a new blockchain, as outlined by Rune Christensen, MakerDAO's co-founder. Christensen's recent blog post suggests a potential move to a blockchain tentatively named NewChain, which may be a fork of Solana. This consideration marks a significant development, given MakerDAO's current operation on Ethereum.

Reasons for Considering Solana

Christensen highlighted several reasons for exploring Solana. The Solana codebase's technical quality, its resilience post-FTX collapse, and the successful adaptation by projects like Pyth Network were key factors. Despite this inclination, Christensen remains open to other blockchain options such as Aptos, Sui, and Cosmos.

Exploring Alternatives

Christensen emphasized Cosmos as a viable alternative, noting its extensive pool of talent and diverse independent developer base. These considerations aim to ensure NewChain's role as a secure link between Ethereum and Solana, enhancing MakerDAO's future operations.