As Christensen explained on our podcast recently, the founders quickly learned it was impossible.

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If so, a big test of that idea may come with MakerDAO, the decentralized lending platform that runs the dai (+0.01%) stablecoin. In a blog post last week, founder Rune Christensen said the MakerDAO Foundation, which runs the lending system, will hand over control entirely to a decentralized autonomous organization (DAO), also called MakerDAO.

As Christensen explained on our podcast recently, the founders quickly learned it was impossible to launch an entirely decentralized platform from the start. The decision-making of the foundation was needed for the system to run effectively at first, but the founders worked to build out the participation, liquidity and a structure that would eventually allow the protocol to run by itself.