Maker Co-Founder Proposes Future Protocol Implementation on Solana Fork

Rune Christensen, a co-founder of Maker, the Ethereum-based stablecoin protocol, has proposed to reimplement the protocol on a new chain forked from Solana. This move would be the final part of “Endgame,” an update to the protocol that seeks to grow the stablecoin dai by enhancing “efficiency, resilience, and participation.”

Maker Proposal Involves Protocol Reimplementation on Solana Fork

Rune Christensen, a cofounder of Maker, the stablecoin protocol behind dai, has proposed reimplementing the protocol on top of a fork of Solana, updating it to manage possible problems derived from technical failures or governance attacks. The move would be part of Maker’s roadmap evolution, called “Endgame,” designed to “enhance efficiency, resilience, and participation” around the Maker protocol.

He defended the creation of a blockchain used only to run the backend of Maker, stating that it would “deal with the eight years of technical debt in the protocol.” This would imply each component would be redesigned and custom-built for its exact function. However, Christensen stated that this change would take at least three years.

EU announces initiative to fast-track supercomputer access for AI startups

European Union President Ursula von der Leyen also called for a global AI governance body during the 2023 State of the Union address. European Union President Ursula von der Leyen announced a new initiative to give artificial intelligence (AI) startups expedited access to European supercomputers.

The announcement came during the president’s 2023 EU State of the Union address on Sept. 13.

Crypto market outflows reached $55B in August as liquidity dwindled — Bitfinex

Crypto’s liquidity crunch could allow event-based volatility to have a greater impact on prices, according to a recent analysis from Bitfinex. Capital outflows in the crypto industry reached $55 billion in August, according to a report released by crypto exchange Bitfinex. 

The analysis is based on the aggregate realized value metric, which measures the realized capital of Bitcoin 

BTC

$26,586 and Ether ETHnull,630 with the combined supply from the top five stablecoins: Tether USDTnull.00, USD Coin USDCnull.00, Binance USD BUSDnull.00, Dai DAInull.00 and TrueUSD (TUSD). “A deep dive into the data reveals a prevailing trend: by early August, the industry had begun to experience capital outflows," notes the report.