Senator Warren’s office confuses MakerDAO for failed 2022 project The DAO
Senator Warren'due south function confuses MakerDAO for failed 2022 project The DAO
Elizabeth Warren's office has allegedly confused top 10 DeFi protocol MakerDAO with an early experiment in decentralized autonomous organizations that failed in 2022.
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Recent dialogue between MakerDAO developers and the office of anti-crypto Senator Elizabeth Warren has revealed a concerning lack of familiarity with the current decentralized finance (DeFi) ecosystem.
On Monday, a screenshot actualization to show a dialogue between members of the MakerDAO community discussing the conclusions from a recent coming together with the role of Senator Warren circulated on social media.
In the screenshot, pseudonymous MakerDAO Governance consul "PaperImperium" claims to take spent much of the time convincing Warren that Maker is non the aforementioned projection every bit The DAO — an infamous early on experiment in decentralized autonomy organizations (DAOs) that suffered a major hack before failing in 2022.
— banteg (@bantg) September 20, 2022
MakerDAO is currently sixth-largest DeFi protocol commanding a total value locked of more than $8.2 billion, according to DeFi Llama.
Despite the confusion, the delegate also concluded that the Senator is "not super interested in united states of america," adding that they "have a delivery for some other coming together" that is expected to take place inside three weeks.
While the screenshots shared to social media claim appear to be citing Senator Warren straight, a Sept. 17 thread posted to MakerDAO's governance forum indicates that the project's delegates were to meet with Warren's "economical and banking advisors."
The meeting comes after increased efforts by MakerDAO to promote initiatives to establish a dialogue between the crypto manufacture and lawmakers.
Elizabeth Warren has recently become a pariah to the crypto industry due to having labeled crypto every bit "the new shadow banking concern" and a "lousy investment."
Earlier this month, she suggested that prohibiting U.S. banks from holding the reserves to back private stablecoins in a move that could "finer end the surging market" would be "worth because."
Related: Sen. Warren goes later Ethereum network fees in committee hearing
The DAO was one of the first major projects on Ethereum, launched in 2022 subsequently raising $150 million USD worth of Ether (ETH) through a token sale. The DAO was hacked due to code vulnerabilities and $lx meg in ETH was stolen less than three months after it halaunched.
It was ane of the most heavily invested crypto projects to date, having attracted 14% of all circulating ETH at the time.
As a result of the incident, the Ethereum community opted to hard fork Ethereum to reverse the assault, with dissenting voices maintaining the old chain to spawn the Ethereum Classic classic chain.
Source: https://cointelegraph.com/news/senator-warren-s-office-confuses-makerdao-for-failed-2016-project-the-dao
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