MakerDAO’s founder plans to tackle climate change and return to ETH

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MakerDAO founder Rune Christensen has published an essay outlining measures that could be taken to turn the protocol into a tool to combat climate change.

In a long post October 5, posted on the MakerDAO Governance Forum, Christensen claims MakerDAO should strive to ensure that all of its collateral includes “sustainable and climate-oriented assets that reflect the long-term environmental impact of financial activities consider”.

Christensen claims that the protocol’s collateral should be invested in sustainable real world assets (RWAs) through senior credit positions in projects that “build solar parks, wind turbines, batteries, charging stations and other cost-effective renewable energy solutions and their” supply chains, sustainable Resource extraction and recycling. ”He went on to explain:

“Today we already have everything we need to safely scale our RWA exposure to hundreds of billions of dollars and beyond, in full compliance with financial regulations, using the trustee-based real asset model that the community has across many Developed over the years. “Years.”

Related: MakerDAO dissolves Foundation and is really decentralized again

Christensen also expresses the need for MakerDAO to re-establish its commitment to decentralized collateral and advocates that the protocol again rely on the Ethereum network and the Ether token.

MakerDAO users store crypto assets in the log to secure the coinage of the Dai (DAI) stablecoin. While Ether was originally supported solely by the protocol, it has since been expanded to support other assets such as USD Coin, Wrapped Bitcoin, and Basic Attention Token.

Highlighting the improved environmental efficiency to be achieved by moving from Ethereum to Proof-of-Stake consensus with Eth2, the founder of Maker stated:

“As soon as the upgrade from Proof of Work to Proof of Stake is complete, Ethereum will become a highly energy-efficient blockchain. ETH is becoming a sustainable contender for the current role of Bitcoin as the primary cryptocurrency. “