This article was first published on Stories by MakerDAO on Medium
The past year has been one of fantastic growth for MakerDAO. Dai continues to be widely respected across the cryptosphere and has become a core part of the #DeFi movement, with hundreds of projects integrating it. At the same time, there has been an encouraging and thoughtful commitment to decentralized governance across the ecosystem. From engagement in our weekly governance calls and discussions in chat forums to participation in governance votes, we are excited to see increasing participation from the growing Maker Community.
To help continue expanding the Maker ecosystem, the Maker Ecosystem Growth Foundation (MEGF) was created. The MEGF controls a fund of MKR tokens that facilitate the adoption of the decentralized MakerDAO protocol. Just as innovation is key to how the Maker project builds new and better ways to level the economic playing field for people around the world, MEGF works to create a structure that is true to the spirit of the organization.
At the end of 2018, MEGF created a board. Though the term “board” may conjure up images of a formal corporate structure, the MEGF board was a bit different. It was made up of nine technical members, who were responsible for ensuring the security of the MEGF’s development funds in a multi-sig. Think of a multi-sig like a bank account with a number of signatories, a subgroup of whom are needed to sign before a transaction could take place. We chose technical individuals for this task, believing they would be best positioned to secure the multi-sig and ensure the soundness of each transaction.
But, due to the project’s rapid growth and the number of projects across the world building on top of MakerDAO, it became clear that the MEGF board required expertise beyond the ability to evaluate technical contributions and maintain the security of ...
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Stories by MakerDAO on Medium