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- 1 Rune Christensen is the co-founder and CEO of MakerDAO, a Decentralized Autonomous Organization (DAO) working on the Ethereum blockchain.
- 2 MakerDAO is an organization developing technologies for savings, borrowing, and generating a stable cryptocurrency over the Ethereum blockchain.
The idea to stabilize the crypto market led Rune Christensen to introduce MakerDAO. MakerDao is a firm working towards technology development related to stabilizing cryptocurrency on the Ethereum blockchain. The platform issues DAI, the world’s first stablecoin over the Ethereum blockchain, eliminating volatility using smart contracts, and allowing depositors to earn interest on DAI.
Christensen proposes to rebrand its stable-issuing protocol flagship token to make it more understandable to normal people having no knowledge of the crypto. MakerDAO is one of the most popular Decentralized Finance (DeFi) projects in the crypto landscape.
The Journey of Rune Christensen From a Biochemistry Student to The CEO of MakerDAO
Rune Christensen as a CEO and co-founder of MakerDAO, is accountable for developing the vision and organizational structure of Dai stablecoin.
Denmark is the birthplace of Rune Christensen and he completed his studies in International Business at Copenhagen Business School from 2011 to 2013. Afterward, Rune Christensen completed his studies in Biochemistry at the University of Copenhagen from 2013 to 2014. He co-founded a company named Try China while living in China. The company was accountable for offering international recruiting services for English teachers from Western countries to offer service in China.
The year 2014 was a turning point in Christensen’s life when he decided to sell his business to make an investment in cryptocurrency. His interest grew for the concept of stablecoin with the unfortunate hack and collapse of Mt. Gox.
In 2015, Rune Christensen with Nikolai Mushegian founded MakerDAO, a DAO organization that issues stablecoin called DAI over the Ethereum blockchain. The main intention behind the organization’s establishment is to enhance transparency and inclusivity in the financial system for individuals.
By the end of 2019, MakerDAO stabilized its roots in the Asian marketplace and engaged with the plan named Endgame to attain genuine decentralization. Also, he proposed a plan to upgrade the versions of DAI stablecoin, governance token, and rebranding of stablecoin.
His continuous efforts and decisions make him one of the strong players in the crypto landscape as well as helping MakerDAO in gaining a recognized position in the crypto market.
Current Position of MakerDAO and Future Standing
MakerDAO is a generator of DAI, the world’s first stablecoin, and leading decentralized stablecoin. The company reported a profit of $2.8 Million from its investments in real-world assets and secured a vital position in the market. The annual revenue of MakerDAO is around $62 Million and the value of DAI is around $0.799712, with a trading volume of $105,289,781 in 2023 and expected to reach $3.50 by the end of 2025. The price predictions show that the value of DAI as well as MakerDAO is going to reach new heights in the near future.
Conclusion
MakerDAO was co-founded by Rune Christensen in 2015 with the purpose to make the financial system more understandable to normal people. The organization develops technologies to stabilize stablecoins on the Ethereum blockchain and generate DAI, the world’s first stablecoin. The company is about to rebrand stablecoin to make the platform more useful to individuals.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
