Maker Foundation Announces $27.5 Million MKR Sale to Dragonfly Capital Partners and Paradigm
Summary
Funding Will Support Maker Efforts to Bring DeFi to China and Other Asian Markets The Maker Foundation announced today that venture capital funds Dragonfly Capital Partners and Paradigm have acquired $27.5 million worth of MKR, approximately 5.5% of the total MKR supply. As Dai holders continue to take advantage of this earning opportunity, the critical role of DSR will be secured within the underlying infrastructure of the entire decentralized finance space. “Dai continues to be the stablecoin of choice in all global markets for its decentralization and overall stability,” said Rune Christensen, CEO of the Maker Foundation. It is also home to the largest concentration of the unbanked and underbanked around the globe, which we believe represents enormous pent-up demand for decentralized financial products. With a presence on numerous cryptocurrency exchanges and active integrations with more than 350 projects, MakerDAO is unlocking the power of the blockchain and DeFi to deliver on the promise of economic empowerment today.