MakerDAO creates a Stable Fund to support developers of Web 3.0

Startup MakerDAO Creator stalmine DAI, in partnership with the developer of the decentralized infrastructure Ethereum L4 runs Stable Fund – a Fund with a capital of $45 million designed to provide promising startups, initial capital and funds for business development. Funding will be made in tokens DAI.

The main product MakerDAO, stablein DAI, solves the problem of high volatility of cryptocurrency is one of the main barriers of introducing the technology of the blockchain in the business. Two months have passed since its launch, the project DAI has already proven its advantages: by using decentralized mechanisms he confidently supports the policy of DAI 1 = $1, even in the turbulent two months 2018, when the capitalization of the cryptocurrency market have several times fell more than 30% in a short period of time.

The interests of the company L4 lie in building a decentralized infrastructure and scalability of Ethereum, which is sometimes called Web 3.0 – increase network bandwidth using the «add-ins» above the main bloccano without changing the basic Protocol, which deals with the Ethereum Foundation.

To Web 3.0 can be attributed to technology ofcan transaction Plasma and Truebit
and channels state (state channels), in varying degrees, is similar to the technology of Lightning in Bitcoin.

Command L4 develops the environment to create channels of a condition called Counterfactual
– a project no less important for Ethereum than DAI, because it is network congestion, caused by, for example, Cryptocotyle or ICO popular projects will go in the past. Acne Buterin is an Advisor to this project.

Stable Fund will issue grants of up to $25,000 and provide investments up to $200,000 in promising startups and will provide them access to strategic investors, if necessary.

Stable Fund headed by longtime community member and Maker co-founder L4 Panashe Mahachi (Panashe Mahachi), founder’s scanate – one of the first cryptocurrency funds.

Rune Christensen (Rune Christensen), founder MakerDAO, said:

We are looking for projects that can work at the current stage of development of Ethereum, with strong technical leaders. We will Fund projects at all stages of their development, however, will require compliance with key metrics at each stage.

Christensen has identified the basic requirements:

  • The idea stage is what you create your project? What from your past work can make us believe that you make your vision a reality? If you don’t do this, can someone else do it?

  • Beta
    – Prove that people love your product. We are more interested in the interest of your users than their number.

  • After a run – How fast is growing the user base in a week? Ready normal people to deal with the current problems of Ethereum in order to use your product?

He added: «In addition to the projects directly using the DAI, we will pay particular attention to projects that use the infrastructure Maker to create breakthrough financial applications. We’ve seen people who open collateral positions (CDP) in Maker in order to pay the mortgage, and we believe that this is just the tip of the iceberg. We are sure that many other interesting applications downright expect that someone will create applications that can improve people’s lives».

As an example, the team Maker has already launched a «Request for startups» with ideas to implement. Among them purse DAI with the simplest interface for people with no experience with cryptocurrencies, API development for online stores willing to accept the DAI, the system of money transfers, and more.

In turn, the L4 will work closely with startups, helping them to integrate their projects into existing infrastructure Ethereum.

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