Join Our Mailing List
Monday May 29, 2023
Bitcoin (BTC) $27,662.41   Ethereum (ETH) $1,892.22
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Featured

a16z crypto buys 6% of MKR, backing MakerDAO

Published by CryptoNinjas.net
09/24/2018
a16z crypto buys 6% of MKR, backing MakerDAO

It was announced earlier today that recently launched $300 million crypto and blockchain investment fund a16z crypto has purchased 6% of the total token supply of MakerDAO’s MKR for $15 million USD.

The purchase gives a16z crypto a stake in the decentralized stablecoin and the only system built with formally verified smart contracts on Ethereum (or any blockchain). As an MKR holder, a16z crypto will participate in the governance of MakerDAO and the Dai Credit System as it becomes the first decentralized autonomous stablecoin organization.

As part of this partnership, MakerDAO will receive operating capital through the next growth stage, 3 years of support for the MakerDAO community, and most importantly, full operational support from the 80+ person Andreessen Horowitz a16z team. Specifically, Dai Stablecoin adoption and regulatory support are two of the first priorities.

The strategic purchase in MakerDAO is one of the first from a16z crypto, the newly created, dedicated crypto fund from Andreessen Horowitz. The move was driven by General Partner Katie Haun, an accomplished former federal prosecutor who led the first government task force on cryptocurrencies and also led the investigation into the Mt. Gox hacks and into the federal task force investigating Silk Road.

“As a first mover and innovator in stablecoins, MakerDAO represents a very compelling opportunity in the crypto space,” said Katie Haun, “MakerDAO’s technology, ecosystem, and talent have put theory into action to deliver a decentralized stablecoin that we believe will help drive the future of the crypto economy.”

Andreessen Horowitz and a16z crypto are opening up their expertise and network in areas ranging from sales and business development (including partnerships), marketing, technical talent, HR operations, and more. We look forward to being able to utilize a16z’s vast array of resources and knowledge to help guide and build Maker for years to come.

“a16z crypto shares our vision for a world where the blockchain has leveled the economic playing field for everybody. With investment and operational support from a16z crypto, MakerDAO will be able to accelerate evolution, innovation, and adoption of the Dai Credit System.”

Rune Christensen, CEO and co-founder of MakerDAO

In addition to the investment from a16z crypto, Maker recently launched multi-collateral Dai on Kovan TestNet and held its first public governance vote.

14
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Pundi X and MakerDAO offer LATAM merchants free XPOS crypto payment device

02/17/2020
Pundi X and MakerDAO offer LATAM merchants free XPOS crypto payment device

Pundi X, a blockchain payment solutions provider, and MakerDAO, the creator of Dai, the first decentralized stablecoin based on the Ethereum blockchain, today announced the launch of the Crypto Merchant program. Qualified merchants will...

Read more

dexFreight collaborates with Maker and Centrifuge for tokenized freight invoices

10/15/2019
dexFreight collaborates with Maker and Centrifuge for tokenized freight invoices

dexFreight, providers of a blockchain-based logistics platform, today announced it has completed a pilot project to tokenize freight invoices and use them as collateral to provide invoice factoring at a much lower borrowing rate...

Read more

Relaunched Dai based DEX Oasis Trade now open

10/02/2019
Relaunched Dai based DEX Oasis Trade now open

The Maker Foundation, today announced that the "new" Oasis Trade is now live. Oasis Trade is an updated version of eth2dai.com, built on the OasisDEX Protocol. Users are able to trade  BAT, REP,  ETH,...

Read more

Opolis awarded grant from MakerDAO to develop Dai payroll ecosystem

09/19/2019
Opolis awarded grant from MakerDAO to develop Dai payroll ecosystem

The team of Opolis, a next-generation employment ecosystem for the self-sovereign worker, has announced that it received a development grant from MakerDAO, the creator of the world’s first decentralized stablecoin. The grant will allow...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
The Sandbox teams with Hex Trust to enable licensed and secure custody of its virtual assets

The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets

05/10/2023
Token.io launches new spin-out company focused on digital money solutions

Token.io launches new spin-out company focused on digital money solutions

12/10/2019
RockX broadens suite with launch of new ether (ETH) native staking solution

RockX broadens suite with launch of new ether (ETH) native staking solution

05/23/2023
The Sandbox teams with Hex Trust to enable licensed and secure custody of its virtual assets

The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets

05/10/2023
CoinFlip launches new self-custodial cryptocurrency wallet platform 'Olliv'

CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’

04/28/2023
Crypto exchange Deribit to launch zero-fee spot trading

Crypto derivatives exchange Deribit to launch zero-fee spot trading

04/20/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy