By Tom Blitzer
Key Insights:
- Rune Christensen eyes Solana’s “highly optimized” code for MakerDAO’s future standalone blockchain, NewChain.
- Solana’s resilience and adaptability make it a top contender for MakerDAO’s backend operations.
- The proposal initiates a community-wide dialogue, marking a pivotal moment in MakerDAO’s long-term strategy.
MakerDAO co-founder Rune Christensen has proposed using the Solana codebase for the project’s planned native blockchain, known as “NewChain.” Announced in a Sept. 1 post on X, formerly Twitter, the recommendation comes despite MakerDAO’s long-standing association with Ethereum.
Why Solana?
In a detailed proposal on the MakerDAO forum, Christensen outlined three reasons for considering Solana’s codebase as the foundation for NewChain. First, he stated that Solana’s code is “highly optimized for the purpose of operating a singular, highly efficient blockchain.” According to Christensen, this technical quality aligns well with the aim of NewChain, which is to resolve existing technical debts within MakerDAO.
Additionally, Christensen mentioned Solana’s ability to withstand multiple challenges, including the FTX event, without collapsing. Consequently, he suggested that this resilience makes Solana a viable long-term partner, providing MakerDAO with access to a skilled talent pool.
Moreover, Christensen noted that developers have already adapted Solana’s codebase for custom blockchains, showing its versatility for potential adaptation in NewChain.
EVM or Solana: A Specific Choice
While Ethereum’s Virtual Machine (EVM) remains a popular choice for decentralized applications, Christensen offered reasons for not considering it as the backend for NewChain. He says EVM is important for user-focused developments but needs to meet MakerDAO’s specific backend requirements.
NewChain aims to be the backend for MakerDAO’s SubDAO tokenomics and governance security. It’s worth noting that MakerDAO’s governance token, Maker, and its stablecoin, Dai, will continue to function on the Ethereum network.
The Timeline and Next Steps
The proposal to switch to a standalone blockchain is part of the fifth and final phase of MakerDAO’s “Endgame” upgrade, announced earlier in May. This transition is expected to take around three years to complete. If successfully implemented, NewChain will fully integrate the Maker protocol.
The proposal to use Solana’s codebase for NewChain adds a new layer to the discussion about MakerDAO’s technological future. While Ethereum has been a crucial part of its past and present, Solana’s technical attributes and proven resilience make it a contender for shaping MakerDAO’s future architecture.
Notably, the proposal has initiated an active dialogue within the MakerDAO community. The ultimate decision will be made through a democratic process, adhering to the project’s decentralized governance model.