The Defiant

In the first episode ever, we speak with Rune Christensen, the founder of MakerDAO, the largest lending platform by assets in decentralized finance and the issuer of the Dai stablecoin.

Rune has been in crypto since 2011 and is no stranger to volatility and crazy market conditions. Still, last month was the most shocking for him yet.

On March 12th 2020, MakerDAO’s mechanism to heal loans that become under-collateralized broke down amid the market crash, allowing one trader to run off with more than $4 million in free ether.

He calls it Maker’s toughest test yet, and he believes the protocol passed it.
Key things we talked about:

• MakerDAO’s plan to hand control to its community and dissolve the Maker Foundation
• MKR auction and token whales
• The decision to add centralized collateral to back Dai
• Whether Maker will add Bitcoin as collateral and create a euro-pegged Dai
• Collateral holders who lost 100% of their funds in the March 12 crash
• Rune’s long-term vision for DeFi and Maker, as an enabler for financial inclusion