The new Grayscale investment fund will enable investors to gain exposure to the MakerDAO ecosystem, with various use cases and utilities.
Global asset manager Grayscale has launched a new crypto investment fund solely for MakerDAO tokens. MakerDAO, a decentralized autonomous organization (DAO), issues the MKR token for governance and utility purposes. With the Grayscale investment fund, investors will now be able to gain exposure to the DAO through a familiar route.
The press release regarding the fund announced the launch of the Grayscale MakerDAO Trust for the fund. Rayhaneh Sharif-Askary, the senior official at Grayscale, said the new fund was catering to the growing demand and adoption of crypto.
He further stated, “The launch of the Grayscale MakerDAO Trust allows investors to experience the growth of the entire MakerDAO ecosystem, aiming to remove DeFi’s dependency on traditional finance infrastructure by providing a permissionless, decentralized, and open stablecoin system.”
Operating on the Ethereum blockchain, MakerDAO is one of the most prominent decentralized finance (DeFi) protocols that is active today. While MKR is its governance token, the DAO also enables the development of a stablecoin, DAI.
Meanwhile, DAOs operate on the principles of decentralization, eliminating the need for a central authority. This structure ensures transparency as all transactions and decisions are recorded on the blockchain, accessible to anyone. The absence of a central point of control makes DAOs resistant to censorship, fostering an open and inclusive environment.
Moreover, DAOs empower token holders to participate in decision-making, creating a democratic governance model. This inclusive approach encourages community involvement and ownership, as anyone can contribute to the platform’s direction. Moreover, decisions take place in DAOs efficiently through on-chain voting mechanisms, streamlining the process. In the case of MakerDAO, MKR token holders helm the governance of the DAO.
With the new crypto investment fund aiming mainly at a DAO, the opportunities for the growth of the sector could broaden.
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