Co-founder of MakerDAO, Rune Christensen, proposed to create a native chain for the DeFi lending protocol using Solana’s codebase.
The native chain of MakerDAO is currently named “NewChain” and is an important part of MakerDAO’s “Endgame.”
The Endgame plan is divided into five stages, and the last one, Phase 5, will introduce a new chain called “NewChain.”
This Newchain will serve as a central hub for the technical tools that support the MakerDAO backend.
“After having researched all the different options available to act as the foundation for NewChain, I believe that the Solana stack is the most promising codebase to explore further,” said Rune Christensen on September 1.
In the proposal, Christensen reported that the Solana codebase is well-designed and is “highly optimized for the purpose of operating a singular, highly efficient blockchain.”
Second, he mentioned that the Solana ecosystem has shown it can handle tough situations like the FTX blowup and other challenges without falling apart.
Lastly, he suggested that MakerDAO could create a new blockchain called NewChain by using a similar approach to how people have already modified the Solana codebase for their purposes.
Rune, sharing on Twitter, argued that the Solana codebase is more favorable as compared to the Ethereum Virtual Machine (EVM). He said, “EVM is still the most important when it comes to building stuff for users, since that’s where the users are. But for a specialized backend for Maker’s specific needs it is not ideal.”
NewChain will act as the backend for the project’s SubDAO tokenomics and governance security. Meanwhile, Maker’s MKR token and the stablecoin Dai will continue to operate normally on the Ethereum blockchain.